Services Penetration Testing 23 NYCRR Part 500 Compliance & Certi
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23 NYCRR Part 500 Compliance & Certification

Navigate NYDFS Cybersecurity Requirements with Confidence. 23 NYCRR Part 500, issued by the New York Department of Financial Services (NYDFS), mandates comprehensive cybersecurity programs for financial services entities to protect the safety and integrity of customer data. Complying isn't just regulatory,it demonstrates operational maturity, builds trust, and strengthens resilience. RedSecLabs helps you achieve full compliance by crafting tailored programs that align technic

23 NYCRR 500 sets minimum cybersecurity requirements,such as appointing a CISO, conducting risk assessments, implementing access controls, logging, and incident reporting,for any organisation under NYDFS regulation. The regulation applies to banks, insurers, mortgage lenders, virtual currency businesses, and other financial services organisations operating under NY authorization. Exemptions exist for very small entities, but many obligations remain even then.

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Get Your Fixed-Fee Quote

Tell us what needs testing. You’ll get a scoped, fixed-fee quote back the same business day, from a senior assessor, not a sales rep. No obligation, no spam.

✓ Same-day response✓ Fixed-fee, no surprises✓ Senior testers only✓ Retest included

We reply within one business day with next steps. Your details are used only to scope your enquiry, never shared or sold.

✓ UK-based CREST member · ✓ QSA-led methodology · ✓ Same-day scoping response · ✓ Executive + technical reports · ✓ Retest included

What Is 23 NYCRR Part 500 and Why It Matters?

23 NYCRR 500 sets minimum cybersecurity requirements,such as appointing a CISO, conducting risk assessments, implementing access controls, logging, and incident reporting,for any organisation under NYDFS regulation.

The regulation applies to banks, insurers, mortgage lenders, virtual currency businesses, and other financial services organisations operating under NY authorization. Exemptions exist for very small entities, but many obligations remain even then.

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Why Trust RedSecLabs for your Red Team Exercise?

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Cross-Domain Expertise

Our team brings deep skills in digital, physical, and social threat simulation.

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Tailored Simulation Design

Each engagement is customized to your sector, threat profile, and risk tolerance.

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Clear, Dual-Perspective Reporting

We deliver both executive summaries and detailed technical blueprints.

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Operational Flexibility

Adaptive tactics keep the exercise moving,even if initial attacks don’t succeed.

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Ethical & Transparent Partnership

We operate within agreed rules, ensuring safety and legality.

RedSecLabs’ Compliance & Certification At a Glance

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Strategic Gap Assessment

We conduct a detailed evaluation of your existing cybersecurity framework versus NYDFS expectations. This includes reviewing existing policies and controls, highlighting deficiencies in governance, technical safeguards, and documentation, quantifying compliance maturity and prioritising areas for improvement

Tailored Policy & Procedure Development

Based on the gap assessment, we co-create documentation aligned with NYDFS requirements, including Cybersecurity program governance, Risk assessment policies, Incident response plans, Third-party security controls, Access, encryption, and MFA procedures

Compliance Execution Support

Our specialists support you in operationalizing these policies,implementing technical controls, defining workflows, engaging leadership, and training staff to embed compliance as part of your culture.

Regulatory Readiness & Certification

While NYDFS doesn’t issue formal certifications, you must submit an annual certification of compliance by April 15. RedSecLabs supports readiness for that filing and any audit or enforcement engagement.

Business Benefits of Our NYCRR 500 Services

Governance Assurance

Aligns leadership oversight with the regulation’s expectations.

Risk-Based Security Practice

Focuses resources on high-impact areas rather than checkbox compliance.

Reduced Liability Exposure

Clear correlation between controls and documentation decreases enforcement risk.

Operational Clarity

Staff understand their roles, making compliance sustainable.

Strategic Readiness

Be audit-ready, incident-ready, and ready to pivot against evolving threats post-2023 amendments.

Who Benefits from These Services?

Financial Institutions & Insurers licensed in New York.

Fintech, Mortgage, Virtual Currency Firms under NYDFS oversight.

Small Entities needing clarity on exemptions or minimal compliance.

Larger Organizations (including Class A) facing elevated expectations like external audits, robust access controls, and advanced logging.

RedSecLabs

Frequently asked questions

A foundational cybersecurity regulation from NYDFS requiring financial services companies to implement governance, risk management, and technical controls to safeguard nonpublic data.

Any entity operating under NYDFS licensing,including banks, insurers, lenders, virtual currency firms,unless they qualify for specific exemptions.

Entities may be exempt if they meet criteria like under 10 employees, less than $5 million revenue, or under $10 million in assets,but must still file an exemption notice.

You must maintain a cybersecurity program, policies, risk reports, incident response plans, MFA enforcement, encrypted data, monitoring logs, and third-party oversight. Certain entities must submit an annual compliance certification.

NYDFS may impose civil penalties, require remediation, or escalate enforcement across governance, misleading certifications, or breach reporting failures.

Get My Fixed-Fee Quote

Book a free 30-minute scoping call. CREST-format proposal within 48 hours, engagement starts within 1-2 weeks.

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What you receive

Every engagement includes

  • ✓ Scoping call. A 30-minute call to define scope, timeline, and authorisation boundaries.
  • ✓ Test plan. Written test plan covering targets, methodology, and rules of engagement.
  • ✓ Technical report. Detailed findings with reproduction steps, evidence, and remediation guidance.
  • ✓ Executive summary. Board-ready 1-2 page summary with risk ratings and business impact.
  • ✓ Audit-ready evidence. Findings letter formatted for auditors, customers, and supervisory authorities.
  • ✓ Retest letter. Free retest of remediated findings within an agreed window. Confirmation letter included.
  • ✓ Remediation call. A call with our lead tester to walk through findings and remediation strategy.
How we deliver

Our process, end to end

  1. 1
    Scoping call & fixed-scope quote
    A 30-minute call. We define scope, targets, timeline. You get a fixed-scope quote within one working day. No surprise invoices.
  2. 2
    Test plan & authorisation
    Written test plan covering methodology, targets, and rules of engagement. Authorisation letter signed before any testing begins.
  3. 3
    CREST-accredited execution
    Senior tester runs the engagement. Critical findings flagged immediately during testing. Daily updates if you want them.
  4. 4
    Technical + executive report
    Detailed technical findings with reproduction steps. Board-ready executive summary. Delivered within agreed working days.
  5. 5
    Remediation call & retest
    Walkthrough with our lead tester. Retest of remediated findings within the agreed window. Confirmation letter for your auditors.
Engagement scope

What shapes the quote

Small scope
Single app, focused scope, smaller surface. 5-7 working days.
Medium scope
Multi-role platform, several user types, integrations. 8-12 working days.
Enterprise scope
Complex environment, multiple targets, compliance evidence. 12-25 working days.
Fixed-scope quote within 1 working day
No surprise invoices, no scope-creep. We commit to a number before you commit to us.
Sample report
See exactly what we deliver
Download a redacted RedSecLabs penetration test report. Same format, same depth, same clarity as the report your team will receive.
Download sample report
Why RedSecLabs

Grounded reasons clients choose us

⚑
UK-based team
Testers based in the UK. Data stays within UK/EU jurisdiction for sensitive engagements.
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CREST member company
CREST-accredited methodology. Senior testers hold CREST CRT or CCT certifications.
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Manual testing, not scanner-only
Automated scanners catch the obvious. Our human testers find the issues that matter.
✎
Clear executive reporting
Reports your board can read and your developers can act on. No jargon padding.
♚
Compliance-aware delivery
PCI, SOC 2, ISO 27001, DORA, GDPR. We map findings to your compliance framework.
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Retest support included
Free retest of remediated findings within agreed window. Confirmation letter for auditors.
Related services

Often paired with this engagement

Pen Testing New York →
SOC 2 Compliance →
Virtual CISO →
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