Remove Disaster Recovery Remove Encryption Remove Third-Party Service Provider
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New York Bolsters Cybersecurity Requirements

Global Fintech & Digital Assets

Requirements related to business continuity and disaster recovery have also been included for the first time. Encryption: The Amendments remove covered entities’ ability to rely on alternative compensating controls for the requirement to encrypt non-public information in transit over external networks.

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Understanding Risk Management Strategies as a PayFac

Stax

Cyberattacks, human errors, third-party service provider failures, and system disruptions all come under operations risk. You need firewalls, encryptions, intrusion detection, and other security measures in your technology stack.