Feb 16, 2021

DFS announces cyber security fraud alert

The New York State Department of Financial Services issued a cyber security fraud alert today to all of its regulated entities. The alert describes a widespread cybercrime campaign to steal consumers’ nonpublic information from public-facing websites that transmit or display redacted nonpublic information. The hackers are attempting to use the stolen information to apply for pandemic assistance and unemployment benefits fraudulently.

Several regulated entities have reported successful or attempted data theft to the DFS from websites that provide instant quotes (e.g., auto insurance quotes), using consumer nonpublic information and displaying some redacted nonpublic information back to the consumer.

DFS reminds its regulated entities to report theft of consumers’ nonpublic information, pursuant to its cyber security regulation, to the department immediately.

Let PIA Northeast help you and your agency

If your agency does business in New York state, you are required to comply with the state’s cyber security regulations. PIA Northeast members have access to the cybersecurity regulation tool kit, which is part of PIA’s Privacy Compliance Central.

Additionally, PIA Northeast offers members cyber liability products, let us navigate your coverage needs with precision. Our team of insurance professionals works to provide your agency with competitive coverage that fits.