• Heavy Financial Penalties: Fines can reach $1,000 per violation per day, with recent settlements in the industry exceeding $2 million.
• Regulatory Scrutiny: Once you are flagged, your agency will be under a microscope, requiring exhaustive documentation and frequent mandatory audits.
• Operational Bans: In severe cases, you could lose your license or your ability to operate in the state of New York.
• Reputational Damage: A public consent order from the NYDFS tells your clients and partners that their sensitive data isn't safe with you.
Compliance is no longer a "check the box" activity. You must document every cybersecurity effort and provide concrete proof of compliance to avoid these outcomes.
Let Us Help Navigating the 23 NYCRR 500 requirements is complex, but it doesn't have to be overwhelming.
Motiva Networks is your dedicated NYDFS compliance expert.Our CEO, Walter, is a registered DFS Instructor with years of experience helping insurance and mortgage firms secure their future.
He can help you identify gaps in your security posture in a simple, no-pressure 10-minute call.
👉 Schedule Your Call with Walter Today:
