New York Department of Financial Services Issued New Guidance (January 2025)

New Guidance to Assist in Addressing Cybersecurity Risks Arising from AI

Friday, January 3, 2025 (Last updated: Aug 6 2026 21:52)

On October 16, 2024, the New York State Department of Financial Services (NYDFS) issued new guidance to NYDFS regulated entities (Covered Entities) on cyber security risks arising from AI.

This new guidance did not create any new compliance requirements – rather, it explains how covered entities should use the framework set forth in NYDFS’s Cybersecurity Regulation 23 NYCRR Part 500 to address risks arising from AI. The new guidance highlights some of the more concerning threats identified by cybersecurity experts, specifically risks caused by threat actors’ use of AI and risks caused by a Covered Entity’s use or reliance on AI.

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