23 NYCRR 500 is used to mandate minimum standards for a cybersecurity risk management program. The framework is part of the New York Department of Financial Services’ overall body of regulations, which outlines security requirements for insurance companies, banks, and other regulated financial services institutions licensed within the state.

How It Works

The 23 NYCRR 500 framework helps you protect consumer information and prevent data breaches. The framework requires annual compliance certifications and robust risk management policies for information technology systems. 23 NYCRR 500 covers data protection and encryption, access controls, and penetration testing.

The Risk Cloud Controls Repository allows you to download 23 NYCRR 500 requirements directly into your Applications to help you assess your risk profile and implement a comprehensive plan that recognizes and mitigates that risk.

Why You Need It

• Maintain compliance with legal requirements in the state of New York to ensure your bank, financial services firm, or insurance company avoids penalties
• Instill confidence in your customers that you will protect their personal data and privacy