United States of America: NYDFS issues guidance on use of multi-factor authentication for cybersecurity purposes

On 7 December 2021, the New York State Department of Financial Services (NYDFS) published its guidance on the role of multi-factor authentication (MFA) in cybersecurity for businesses. The guidance stresses the importance of MFA in ensuring cybersecurity. The NYDFS recommends that companies exempt from the requirement to implement MFA, as well as small businesses, nevertheless implement MFA.