Article
NYDFS Reaches Settlement With Money Transmitter Order Express Over Alleged Cyber Program Violations
The New York Department of Financial Services reached a $250,000 settlement with Order Express following a 2022 ransomware attack investigation. The case revealed inadequate risk assessments and software update policies that left the licensed money transmitter vulnerable to known security threats, highlighting what regulators expect from companies' cybersecurity measures.
Sheppard, Mullin, Richter & Hampton LLP