A complete analysis of NYCRR Part 500-related penalties in 2024-2025
New York’s Department of Financial Services (DFS) has entered its most aggressive cybersecurity enforcement phase in the regulation’s history. In total, the NY DFS issued $63.3 million in 23 NYCRR Part 500-related penalties in 2024-2025. This whitepaper breaks down the landmark cases from 2024–2025, including actions against GEICO, Travelers, Block, Healthplex, and Genesis Global Trading.
Proactive enforcement has dramatically changed the regulatory landscape from reactive compliance checking to comprehensive risk management oversight. Learn how DFS is reshaping expectations around multi-factor authentication, access controls, incident reporting timelines, board-level oversight, and risk-based supervision. Enforcement now focuses on how security programs operate in practice, not just how they’re documented. Sector-specific vulnerabilities and remediation mandates are also receiving increased attention.
Inside the whitepaper:
- Root causes behind each enforcement action
- Specific NYCRR Part 500 violations and their implications
- What Class A entities should prepare for
- How DFS is influencing national cybersecurity standards
- What regulators expect from your security program today
Whether your organization operates in insurance, finance, virtual currency, or healthcare, the whitepaper offers practical insight into how New York’s regulators are shaping national baselines, and how your organization should adapt to withstand increased regulatory scrutiny.
