New York is the home of the most valuable stock exchange in the entire world. In the past 2 years there has been an increase in Cyber Attacks due to the wanting of money and people's personal information by black hat hackers. Right now, the NYDFS is very worried about their bank's online security since the number of online banking hacks has increased over the course of the past 2 years. The whole point of a bank is that the people trust the banks to hold their money, and if their money and information get stolen, the bank will lose the people's trust. That is the biggest fear of the NYDFS, is to lose all consumers due to Cyber Attacks, therefore, they are making big changes to their CyberSecurity regulations.
Link: http://www.businessinsider.com/new-york-cybersecurity-regulations-protect-wall-street-2018-2
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