ISO 28000
International standard for supply chain security management systems
23 NYCRR 500
NY regulation for financial services cybersecurity.
Quick Verdict
ISO 28000 provides voluntary supply chain security management globally for resilient logistics, while 23 NYCRR 500 mandates cybersecurity controls for NY financial entities with strict enforcement, annual certifications, and penalties. Firms adopt ISO for certification advantage; NYCRR for regulatory compliance.
ISO 28000
ISO 28000:2022 Security management systems requirements
Key Features
- Risk-based security management system for supply chains
- PDCA cycle with High Level Structure alignment
- Scalable to all organization sizes and industries
- Leadership commitment and supplier interdependency focus
- Continual improvement via audits and management reviews
23 NYCRR 500
23 NYCRR Part 500 Cybersecurity Regulation
Key Features
- Dual CEO/CISO annual compliance certification
- 72-hour cybersecurity incident notification
- Mandatory phishing-resistant MFA rollout
- Comprehensive TPSP risk management policy
- Annual penetration testing and vulnerability assessments
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
ISO 28000 Details
What It Is
ISO 28000:2022 is an international management system standard specifying requirements for establishing, implementing, maintaining, and improving a security management system (SMS) focused on supply chain security. It uses a risk-based approach with PDCA cycle to protect people, assets, and information across supply chains.
Key Components
- Clauses 4-10 cover context, leadership, planning, support, operation, evaluation, improvement.
- Emphasizes risk assessment, security policy, operational controls, supplier governance.
- Built on ISO High Level Structure for integration.
- Supports voluntary third-party certification via accredited bodies per ISO 28003.
Why Organizations Use It
- Reduces security incidents, insurance costs, disruptions.
- Meets contractual, regulatory expectations like customs programs.
- Enhances market access, trade facilitation, reputation.
- Builds stakeholder trust through auditable processes.
Implementation Overview
- Phased: scoping, gap analysis, risk assessment, controls deployment, audits.
- Scalable for micro-enterprises to multinationals in logistics, manufacturing, etc.
- Requires internal audits, management reviews; optional certification with surveillance.
23 NYCRR 500 Details
What It Is
23 NYCRR Part 500 is the New York Department of Financial Services (NYDFS) Cybersecurity Regulation, a state-level mandate for financial entities. It establishes minimum risk-based cybersecurity standards to protect nonpublic information (NPI) and ensure operational integrity. The approach is hybrid: prescriptive controls combined with risk assessments.
Key Components
- 14 core requirements including cybersecurity program, CISO appointment, MFA, encryption, penetration testing, TPSP oversight, and 72-hour incident reporting.
- Built on risk assessment (§500.9); annual dual CEO/CISO certification (§500.17).
- Compliance model: self-attestation with 5-year evidence retention; Class A companies face enhanced audits.
Why Organizations Use It
- Mandatory for NY-licensed financial services firms (banks, insurers, etc.).
- Mitigates multimillion-dollar fines (e.g., Robinhood $30M); reduces incident risk.
- Builds stakeholder trust, lowers insurance premiums, enhances resilience.
Implementation Overview
- Phased roadmap: governance, risk assessment, technical controls (MFA, asset inventory), TPSP contracts.
- Applies to Covered Entities in NY; scalable by size/complexity.
- No external certification but DFS examinations and evidence audits required. (178 words)
Key Differences
| Aspect | ISO 28000 | 23 NYCRR 500 |
|---|---|---|
| Scope | Supply chain security management systems | Financial services cybersecurity and NPI protection |
| Industry | Logistics, manufacturing, all sectors globally | NYDFS-regulated financial services only |
| Nature | Voluntary international management standard | Mandatory NY state regulation with enforcement |
| Testing | Internal audits, management reviews, certification | Annual pen testing, vulnerability scans, CISO certification |
| Penalties | Loss of certification, no legal penalties | Fines, consent orders, license revocation |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about ISO 28000 and 23 NYCRR 500
ISO 28000 FAQ
23 NYCRR 500 FAQ
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