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regulatory
New York State Department of Financial Services Secures Cybersecurity Settlement with Order Express, Inc.
New York State Department of Financial Services (NYDFS) announced a $250,000 settlement with Order Express, Inc., a licensed money transmitter, for violations of cybersecurity regulations (23 NYCRR Part 500). NYDFS investigators found deficiencies in the company's cybersecurity program.
Why it matters: Money transmitter operators and financial services firms subject to NYDFS oversight must maintain compliant cybersecurity programs or face significant penalties; review your 23 NYCRR Part 500 controls to ensure no similar gaps.
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