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Cyberattacks are undoubtedly on the rise. Companies are no longer concerned about whether an attack will occur, but rather when and how their most valuable data will be breached. Increasing in sophistication, today’s cyberattacks can impact all areas of an organization for years after the initial attack and can cost millions—if not billions—in damages.

A number of regulations focused on improving cybersecurity programs have been introduced over the past few years, including a recent regulation finalized by the New York Department of Financial Services (NYDFS) requiring banks, insurance companies, and other NYDFS-regulated entities to establish and maintain an effective cyber risk management program. Still, the magnitude of stolen information remains staggering, and the challenges associated with protecting data continue to grow.

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