According to the strategy released by New York governor Kathy Hochul:
“Financial Sector[:] In 2017, the New York State Department of Financial Services (DFS) became the first banking or insurance regulator in the nation to establish a cybersecurity division to protect consumers and industries from cyber threats. DFS also created first-in-the-nation requirements for DFS-regulated banks, insurance companies, virtual currency companies, and other financial services institutions. The State will continue to build on the success of these cybersecurity regulations through amendments to ensure they keep pace with new threats and technologies, as applicable.”