State Regulatory Developments

NYDFS Issues Cyber Threat Alert Regarding Targeting of IT Help Desk Personnel

The New York Department of Financial Services issued a cyber threat alert regarding activity targeting financial services companies’ IT help desks.

Threat actors have been targeting companies’ IT help desks and call centers using, among other things, voice-altering technology in conjunction with publicly available information about employees to convince help desk personnel to reset passwords and divert multi-factor authentication (MFA) to new devices.  The alert directs regulated entities to be alert for suspicious communications, especially via phone, and implement secure controls to prevent threat actors from easily changing passwords and rerouting MFA requests.  Financial services companies should alert their employees about these potential social engineering attempts, ensure IT employees are diligent in authenticating the identity of anyone requesting changes to passwords or MFA devices, and be cautious of purported vendors or other individuals requesting support related to accessing information systems.