New York readies cyber rules for banks

A final version of the proposed regulation could be issued after a 45-day public comment period

Cyber espionage
Watchful eye: NY would become the first US state to require banks to establish a cyber programme

New York governor Andrew Cuomo and the state's Department of Financial Services (DFS) have moved to codify rules regarding cyber security, which they say will better protect the final system and consumers from increasingly organised computer attacks.

If the regulations proposed on September 13 are successful, New York will be the first state in the US to require banks, insurance companies and DFS-regulated financial services institutions to establish and maintain a cyber-security programme. The