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Essential Guide for Vendors: Key Features to Look for in a Cyber Security Assessment Tool for Healthcare TPRM
Read 23NYCRR Part 5005 Minute Read
The Ultimate TPRM & Cyber Risk Glossary
When in doubt, use an acronym.
Whether you’re a seasoned healthcare CISO or you’re new to the industry and convinced people are just making up acronyms—this glossary has you covered. From standard industry frameworks to CORL-specific terms, it’s your Rosetta Stone for healthcare TPRM, cyber risk, and compliance.
Understanding 23NYCRR Part 500
23NYCRR Part 500 is a regulation established by the New York Department of Financial Services (NYDFS) to enhance the cybersecurity requirements for financial institutions and other regulated entities. This framework mandates that organizations implement a robust cybersecurity program to protect sensitive information, manage cyber risks, and report incidents in a timely manner. Adherence to 23NYCRR Part 500 is essential for meeting client and regulatory expectations for secure data handling and incident response, especially when dealing with third-party vendors that access or process sensitive financial data.
Part 500 specifically requires institutions to address various aspects of cybersecurity, including risk assessment, penetration testing, multi-factor authentication, and access controls, among others. Non-compliance with 23NYCRR Part 500 can lead to significant penalties and reputational damage, especially if a data breach occurs.