Department of Financial Services Calls for Regulation of Social Media Giants After Twitter Hack Investigation

Posted to Applied Web NY on Wed, 10/14/2020 - 10:21

The New York State Department of Financial Services (DFS) today released a report on the Department’s investigation into the July 15, 2020 hack into the Twitter accounts of cryptocurrency firms and well-known public figures, following Governor Andrew M. Cuomo’s request to investigate the matter.  Among DFS’ findings: the global social media platform lacked adequate cybersecurity protections and, at the time of the attack, did not have a chief information security officer. The report recommends a new cybersecurity  regulatory framework for giant social media companies. 

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