Ready to meet New York State's updated cybersecurity requirements?

If you are using Salesforce to manage customer data, Own Company can help you with this compliance journey.

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The New York State Department of Financial Services (NYDFS) is updating the 23 NYCRR 500 regulation titled “Cybersecurity Requirements for Financial Services Companies.” Companies have one year to comply with the updated regulation, which encompasses the following:

  • Asset inventory

  • Risk assessment

  • Multi-factor authentication (MFA) implementation

  • Business continuity and disaster recovery (BCDR)

  • Governance

  • CEO/CISO certification

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Larger companies (“Class A” companies), with aggregate revenue from New York operations and over $1 billion globally, or 2,000 employees globally, must also:

  • Complete an annual external audit of cybersecurity program

  • Use external experts to conduct a risk assessment at least once every three years

  • Implement an access management password solution and controls to prevent the usage of common passwords for privileged accounts

  • Implement an end-point detection and response system to monitor for anomalous activity and generate alerts

The regulation also requires a compliance filing, which raises the risk of firms falling short and incurring millions in fines. Companies must also implement new controls, increase the frequency of existing cyber controls, and ensure that their compliance with the regulation is documented.

How Own can help ensure NYDFS compliance for Salesforce:


Least privileged access management solution (section 500.7 on pages 8-9) Encryption (section 500.15 on page 12)


Data retention requirements (section 500.3 on page 5 and section 500.13 on pages 11-12)


Backup and recovery (section 500.16 on pages 13-15)

Key Features

Data classification

Identify where your highest-risk information assets are located in Salesforce.

Data retention

Archive immutable records in the cloud and secure sensitive legacy data.

Disaster recovery

Maintain and protect backups while being able to reliably and rapidly restore data.

Event monitoring

Detect potential issues causing the deletion or corruption of data.

Privileged access

Proactively limit and secure user access to sensitive information.


Implement encryption of nonpublic information at rest or in transit.

Learn how Own can help you identify data exposure risks and proactively take action to protect and secure your data.

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