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Something Old, Something New: Latest NYDFS Cybersecurity Regulation Enforcement Action Emphasizes Policy Implementation, Training, and Effective Access Controls

February 27, 2025

The New York State Department of Financial Services recently announced that it has entered into a consent order with PayPal, Inc. for violations of the NYDFS Cybersecurity Regulation. The consent order, under which PayPal has agreed to pay a $2 million penalty, comes after an NYDFS investigation into a 2022 cybersecurity incident that led to the exposure of sensitive customer information on PayPal’s platform….
By: Wyrick Robbins Yates & Ponton LLP

Something Old, Something New: Latest NYDFS Cybersecurity Regulation Enforcement Action Emphasizes Policy Implementation, Training, and Effective Access Controls

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