The document discusses security issues related to cloud computing adoption in the financial services industry. It outlines two types of clouds - public clouds that offer scale and cost benefits but lack security controls, and private clouds that have better security but higher costs. The financial industry requires high data security and control due to regulations. Adopting cloud computing is challenging as financial institutions lose visibility and control over their data stored externally. The document urges financial firms to thoroughly understand security responsibilities and challenges before adopting cloud solutions.
IRM will address information security needs for all types of enterprises.IRM is a set of policies and technologies that help enterprises control the usage of information contained in shared documents.
IRM will address information security needs for all types of enterprises.IRM is a set of policies and technologies that help enterprises control the usage of information contained in shared documents.
Information Rights Management is the set of techniques and methods which protect the highly sensitive information of the organization irrespective of the file location whether it resides "in" or "outside" the corporate boundaries. This happens as the permissions embedded inside the file don't allow unauthorized access, modification, copying or printing. This is typically done for protection of financial documents, intellectual property such as patents, design blueprints and executive communications.
Information Security in the Banking Sector. A Case Study on UserLockIS Decisions
A Leading Global Banking Group controls network access with UserLock. A case study on how UserLock offers access control, regulatory compliance and risk prevention. Needing to eliminate the opportunity for fraud resulting from users sharing logins, UserLock software eliminates concurrent logins and restricts access to the group's Windows network. A mitigation of risky behavior and insider threat through real-time monitoring of all sessions on the network, enabling an immediate response to any suspicious behavior.
The growing costs of security breaches and manual compliance efforts have given rise to new data security solutions specifically designed to prevent data breaches and deliver automated compliance. This paper examines the drivers for adopting a strategic approach to data security, compares and contrasts current approaches, and presents the Return on Security Investment (ROSI) of viable data security solutions.
From reactive to automated reducing costs through mature security processes i...NetIQ
Addressing Human Vulnerabilities that Bedevil IT Security:
All systems are susceptible to the social engineering techniques that lie at the root of some or all the well publicized security incidents. But why can’t the industry do more to design out the human vulnerabilities that continue to bedevil even the best security systems?
It is important to understand that good security is ultimately a people issue and that while updating rules in technology to keep pace with threats is reasonably easy, changing human behaviour – and thus reducing the risks of social engineering – is much more difficult to do and maintain consistently.
Automated intelligence and control is the logical next step for how security management solutions solve problems in more complex, fast moving environments. The urgency to make business exception management and end-user policy management more fit for purpose is driven by how regulators are becoming more proactive and demanding.
If you're serious about becoming a successful, well-rounded IT professional, you need to
constantly broaden your skills and knowledge--and in some areas that might surprise you. This list details
key competencies that will help advance your career.
Information Security vs. Data Governance vs. Data Protection: What Is the Rea...PECB
This webinar will provide more information on the importance of information security and how you can take security well beyond compliance, an approach on building strong information security, privacy and data governance programs, and the importance of strong data governance in relation to privacy and information security requirements.
The webinar covers
• Information Security
• Importance Of Information Security Today
• Taking Information Security Beyond A Compliance First
• Importance Of Data Governance In Information Security
• Privacy
• Changing And Evolving Privacy Requirements
• Importance Of Data Governance In Privacy
• Data Governance And Data Privacy
• Data Privacy - Data Processing Principles
Presenters:
Moji is a Senior Business Process Analyst working with GemaltoThales, a leading firm in the IT industry. Moji has over fifteen years of experience in leading projects to improve processes, create and implement processes leading to increased revenue generation and eliminate redundancies.
She has a zeal for adding value and increasing revenue for organizations. Moji is very passionate about Data Privacy and its application in business and consumer rights.
Hardeep Mehrotara has 20+ years of senior leadership experience in Information Technology and Cyber Security working for public and private organizations building security programs from the ground up. He has been featured on Canadian television as a cyber expert and provided advice to various communities on implementing cybersecurity strategy, best practices and controls. He has been a co-author on numerous leading industry security control frameworks, technical benchmarks and industry best practice standards.
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Find out more about ISO training and certification services
Training: https://pecb.com/whitepaper/iso-27001-information-technology--security-techniques-information-security--management-systems---requirements
https://pecb.com/en/education-and-certification-for-individuals/iso-iec-27701
Webinars: https://pecb.com/webinars
Articles: https://pecb.com/article
Whitepapers: https://pecb.com/whitepaper
-------------------------------------------------------------------------------
For more information about PECB:
Website: https://pecb.com/
LinkedIn: https://www.linkedin.com/company/pecb/
Facebook: https://www.facebook.com/PECBInternational/
Slideshare: http://www.slideshare.net/PECBCERTIFICATION
YouTube video: https://youtu.be/aQcS5-RFIEY
Website link: https://pecb.com/
Data breach events result in significant losses each year. Our partners at Bonahoom & Bobilya, LLC, created a presentation about understanding the hidden regulatory risks of a data breach so you can keep your company from going out of business.
This presentation has been shared with permission.
Strategic Information Management Through Data ClassificationBooz Allen Hamilton
This white paper presents a comprehensive approach to information management programs. It outlines how data growth directly affects the risk posture of critical corporate information assets. In addition, it defines common problems caused by gaps in information management programs as well as consequences associated with immature methodologies.
Secure Islands provides IRM protection, and takes it to the next level by adding a simple and powerful management layer.
http://www.secureislands.com/irm/
Information Rights Management is the set of techniques and methods which protect the highly sensitive information of the organization irrespective of the file location whether it resides "in" or "outside" the corporate boundaries. This happens as the permissions embedded inside the file don't allow unauthorized access, modification, copying or printing. This is typically done for protection of financial documents, intellectual property such as patents, design blueprints and executive communications.
Information Security in the Banking Sector. A Case Study on UserLockIS Decisions
A Leading Global Banking Group controls network access with UserLock. A case study on how UserLock offers access control, regulatory compliance and risk prevention. Needing to eliminate the opportunity for fraud resulting from users sharing logins, UserLock software eliminates concurrent logins and restricts access to the group's Windows network. A mitigation of risky behavior and insider threat through real-time monitoring of all sessions on the network, enabling an immediate response to any suspicious behavior.
The growing costs of security breaches and manual compliance efforts have given rise to new data security solutions specifically designed to prevent data breaches and deliver automated compliance. This paper examines the drivers for adopting a strategic approach to data security, compares and contrasts current approaches, and presents the Return on Security Investment (ROSI) of viable data security solutions.
From reactive to automated reducing costs through mature security processes i...NetIQ
Addressing Human Vulnerabilities that Bedevil IT Security:
All systems are susceptible to the social engineering techniques that lie at the root of some or all the well publicized security incidents. But why can’t the industry do more to design out the human vulnerabilities that continue to bedevil even the best security systems?
It is important to understand that good security is ultimately a people issue and that while updating rules in technology to keep pace with threats is reasonably easy, changing human behaviour – and thus reducing the risks of social engineering – is much more difficult to do and maintain consistently.
Automated intelligence and control is the logical next step for how security management solutions solve problems in more complex, fast moving environments. The urgency to make business exception management and end-user policy management more fit for purpose is driven by how regulators are becoming more proactive and demanding.
If you're serious about becoming a successful, well-rounded IT professional, you need to
constantly broaden your skills and knowledge--and in some areas that might surprise you. This list details
key competencies that will help advance your career.
Information Security vs. Data Governance vs. Data Protection: What Is the Rea...PECB
This webinar will provide more information on the importance of information security and how you can take security well beyond compliance, an approach on building strong information security, privacy and data governance programs, and the importance of strong data governance in relation to privacy and information security requirements.
The webinar covers
• Information Security
• Importance Of Information Security Today
• Taking Information Security Beyond A Compliance First
• Importance Of Data Governance In Information Security
• Privacy
• Changing And Evolving Privacy Requirements
• Importance Of Data Governance In Privacy
• Data Governance And Data Privacy
• Data Privacy - Data Processing Principles
Presenters:
Moji is a Senior Business Process Analyst working with GemaltoThales, a leading firm in the IT industry. Moji has over fifteen years of experience in leading projects to improve processes, create and implement processes leading to increased revenue generation and eliminate redundancies.
She has a zeal for adding value and increasing revenue for organizations. Moji is very passionate about Data Privacy and its application in business and consumer rights.
Hardeep Mehrotara has 20+ years of senior leadership experience in Information Technology and Cyber Security working for public and private organizations building security programs from the ground up. He has been featured on Canadian television as a cyber expert and provided advice to various communities on implementing cybersecurity strategy, best practices and controls. He has been a co-author on numerous leading industry security control frameworks, technical benchmarks and industry best practice standards.
-------------------------------------------------------------------------------
Find out more about ISO training and certification services
Training: https://pecb.com/whitepaper/iso-27001-information-technology--security-techniques-information-security--management-systems---requirements
https://pecb.com/en/education-and-certification-for-individuals/iso-iec-27701
Webinars: https://pecb.com/webinars
Articles: https://pecb.com/article
Whitepapers: https://pecb.com/whitepaper
-------------------------------------------------------------------------------
For more information about PECB:
Website: https://pecb.com/
LinkedIn: https://www.linkedin.com/company/pecb/
Facebook: https://www.facebook.com/PECBInternational/
Slideshare: http://www.slideshare.net/PECBCERTIFICATION
YouTube video: https://youtu.be/aQcS5-RFIEY
Website link: https://pecb.com/
Data breach events result in significant losses each year. Our partners at Bonahoom & Bobilya, LLC, created a presentation about understanding the hidden regulatory risks of a data breach so you can keep your company from going out of business.
This presentation has been shared with permission.
Strategic Information Management Through Data ClassificationBooz Allen Hamilton
This white paper presents a comprehensive approach to information management programs. It outlines how data growth directly affects the risk posture of critical corporate information assets. In addition, it defines common problems caused by gaps in information management programs as well as consequences associated with immature methodologies.
Secure Islands provides IRM protection, and takes it to the next level by adding a simple and powerful management layer.
http://www.secureislands.com/irm/
Industry and firm profile- MBA course papergirish0984
The objective of this document is to study a particular industry and a firm within that industry. This document describes the Financial Services Industry and JP Morgan bank.
http://inarocket.com
Learn BEM fundamentals as fast as possible. What is BEM (Block, element, modifier), BEM syntax, how it works with a real example, etc.
How to Build a Dynamic Social Media PlanPost Planner
Stop guessing and wasting your time on networks and strategies that don’t work!
Join Rebekah Radice and Katie Lance to learn how to optimize your social networks, the best kept secrets for hot content, top time management tools, and much more!
Watch the replay here: bit.ly/socialmedia-plan
Content personalisation is becoming more prevalent. A site, it's content and/or it's products, change dynamically according to the specific needs of the user. SEO needs to ensure we do not fall behind of this trend.
Data Privacy And Security Issues In Cloud Computing.pdfCiente
In this blog post, we delve into the intricacies of data privacy and security issues in cloud computing, exploring the risks and offering insights on how businesses can navigate this complex terrain.
In the last few years, cloud computing has grown from being a promising business concept to one of the fastest growing segments of the IT industry. Now, recession-hit companies are increasingly realizing that simply by tapping into the cloud they can gain fast access to best-of-breed business applications or drastically boost their infrastructure resources, all at negligible cost. But as more and more information on individuals and companies is placed in the cloud, concerns are beginning to grow about just how safe an environment it is. This paper discusses security issues, requirements and challenges that cloud service providers (CSP) face during cloud engineering. Recommended security standards and management models to address these are suggested for technical and business community.
Cloud Security - Types, Common Threats & Tips To Mitigate.pdfDataSpace Academy
With businesses increasingly relying on the cloud, hackers are fast targeting cloud computing networks. There is an urgent need for robust cloud security measures to keep your network and data safe from prying eyes. The blog begins with a discussion on the significance of cloud security and types of cloud security. It also talks about the common threats faced by a cloud network. The blog further wraps up with a detailed list of the best security practices to follow to ensure a powerful security infrastructure for cloud networks.
A traditional computing environment requires a costly
infrastructure to offer a better service to users. The introduction
of cloud computing has changed the working environment from
traditional to virtual. A larger number of IT companies are
utilizing the cloud. On the one hand, the cloud attracts more
number of consumers by offering services with minimized
capital cost and virtual infrastructure. On the other hand, there
are a risk and security challenges in cloud computing that
makes the user not to move completely towards it. The cloud
environment is more vulnerable to security breaches and data
theft. Moreover, insider attacks are more frequent in larger
enterprises. An unauthenticated user can cause more damage
to company reputation. The cloud service providers are trying
to provide a secure work environment for users. However,
there is a lack of global standards and policies to invoke
security measures in cloud computing. This study aims to
highlight and classify security challenges and trust issues in the
cloud environment.
The survey was conducted in various institutions and
governmental organizations in Saudi Arabia to study the
opinions of stakeholders on cloud computing security
challenges and risks.
Links:
http://sites.google.com/site/ijcsis/
https://google.academia.edu/JournalofComputerScience
https://www.linkedin.com/in/ijcsis-research-publications-8b916516/
http://www.researcherid.com/rid/E-1319-2016
It is shocking to note that about 3.5 billion people saw their
personal data stolen in the top two of the 15 biggest breaches
of this century alone. With the average cost of a data breach
exceeding $8 million, it is no wonder that safeguarding
confidential business and customer information has become
more important than ever. Furthermore, with stricter laws and governance requirements, data security is now everyone’s
responsibility across the entire enterprise.
However, that is easier said than done, and for that reason, an
an increasing number of organizations are relying heavily on data masking to proactively protect their data, avoid the cost of security breaches, and ensure compliance.
Secrets to managing your Duty of Care in an ever- changing world.
How well do you know your risks?
Are you keeping up with your responsibilities to provide Duty of Care?
How well are you prioritising Cybersecurity initiatives?
Liability for Cybersecurity attacks sits with Executives and Board members who may not have the right level of technical security knowledge. This session will outline what practical steps executives can take to implement a Cybersecurity Roadmap that is aligned with its strategic objectives.
Led by Krist Davood, who has spent over 28 years implementing secure mission critical systems for executives. Krist is an expert in protecting the interconnectedness of technology, intellectual property and information systems, as evidenced through his roles at The Good Guys, Court Services Victoria and Schiavello.
The seminar will cover:
• Fiduciary responsibility
• How to efficiently deal with personal liability and the threat of court action
• The role of a Cybersecurity Executive Dashboard and its ability to simplify risk and amplify informed decision making
• How to identify and bridge the gap between your Cybersecurity Compliance Rating and the threat of court action
International Journal of Engineering Research and Applications (IJERA) is an open access online peer reviewed international journal that publishes research and review articles in the fields of Computer Science, Neural Networks, Electrical Engineering, Software Engineering, Information Technology, Mechanical Engineering, Chemical Engineering, Plastic Engineering, Food Technology, Textile Engineering, Nano Technology & science, Power Electronics, Electronics & Communication Engineering, Computational mathematics, Image processing, Civil Engineering, Structural Engineering, Environmental Engineering, VLSI Testing & Low Power VLSI Design etc.
Cloud Computing Security Issues and ChallengesCSCJournals
Cloud computing is a set of IT services that are provided to a customer over a network on a leased basis and with the ability to scale up or down their service requirements. Usually cloud computing services are delivered by a third party provider who owns the infrastructure. It advantages to mention but a few include scalability, resilience, flexibility, efficiency and outsourcing non-core activities. Cloud computing offers an innovative business model for organizations to adopt IT services without upfront investment. Despite the potential gains achieved from the cloud computing, the organizations are slow in accepting it due to security issues and challenges associated with it. Security is one of the major issues which hamper the growth of cloud. The idea of handing over important data to another company is worrisome; such that the consumers need to be vigilant in understanding the risks of data breaches in this new environment. This paper introduces a detailed analysis of the cloud computing security issues and challenges focusing on the cloud computing types and the service delivery types.
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...Ramesh Iyer
In today's fast-changing business world, Companies that adapt and embrace new ideas often need help to keep up with the competition. However, fostering a culture of innovation takes much work. It takes vision, leadership and willingness to take risks in the right proportion. Sachin Dev Duggal, co-founder of Builder.ai, has perfected the art of this balance, creating a company culture where creativity and growth are nurtured at each stage.
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...UiPathCommunity
💥 Speed, accuracy, and scaling – discover the superpowers of GenAI in action with UiPath Document Understanding and Communications Mining™:
See how to accelerate model training and optimize model performance with active learning
Learn about the latest enhancements to out-of-the-box document processing – with little to no training required
Get an exclusive demo of the new family of UiPath LLMs – GenAI models specialized for processing different types of documents and messages
This is a hands-on session specifically designed for automation developers and AI enthusiasts seeking to enhance their knowledge in leveraging the latest intelligent document processing capabilities offered by UiPath.
Speakers:
👨🏫 Andras Palfi, Senior Product Manager, UiPath
👩🏫 Lenka Dulovicova, Product Program Manager, UiPath
Smart TV Buyer Insights Survey 2024 by 91mobiles.pdf91mobiles
91mobiles recently conducted a Smart TV Buyer Insights Survey in which we asked over 3,000 respondents about the TV they own, aspects they look at on a new TV, and their TV buying preferences.
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Software Delivery At the Speed of AI: Inflectra Invests In AI-Powered QualityInflectra
In this insightful webinar, Inflectra explores how artificial intelligence (AI) is transforming software development and testing. Discover how AI-powered tools are revolutionizing every stage of the software development lifecycle (SDLC), from design and prototyping to testing, deployment, and monitoring.
Learn about:
• The Future of Testing: How AI is shifting testing towards verification, analysis, and higher-level skills, while reducing repetitive tasks.
• Test Automation: How AI-powered test case generation, optimization, and self-healing tests are making testing more efficient and effective.
• Visual Testing: Explore the emerging capabilities of AI in visual testing and how it's set to revolutionize UI verification.
• Inflectra's AI Solutions: See demonstrations of Inflectra's cutting-edge AI tools like the ChatGPT plugin and Azure Open AI platform, designed to streamline your testing process.
Whether you're a developer, tester, or QA professional, this webinar will give you valuable insights into how AI is shaping the future of software delivery.
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024Tobias Schneck
As AI technology is pushing into IT I was wondering myself, as an “infrastructure container kubernetes guy”, how get this fancy AI technology get managed from an infrastructure operational view? Is it possible to apply our lovely cloud native principals as well? What benefit’s both technologies could bring to each other?
Let me take this questions and provide you a short journey through existing deployment models and use cases for AI software. On practical examples, we discuss what cloud/on-premise strategy we may need for applying it to our own infrastructure to get it to work from an enterprise perspective. I want to give an overview about infrastructure requirements and technologies, what could be beneficial or limiting your AI use cases in an enterprise environment. An interactive Demo will give you some insides, what approaches I got already working for real.
Search and Society: Reimagining Information Access for Radical FuturesBhaskar Mitra
The field of Information retrieval (IR) is currently undergoing a transformative shift, at least partly due to the emerging applications of generative AI to information access. In this talk, we will deliberate on the sociotechnical implications of generative AI for information access. We will argue that there is both a critical necessity and an exciting opportunity for the IR community to re-center our research agendas on societal needs while dismantling the artificial separation between the work on fairness, accountability, transparency, and ethics in IR and the rest of IR research. Instead of adopting a reactionary strategy of trying to mitigate potential social harms from emerging technologies, the community should aim to proactively set the research agenda for the kinds of systems we should build inspired by diverse explicitly stated sociotechnical imaginaries. The sociotechnical imaginaries that underpin the design and development of information access technologies needs to be explicitly articulated, and we need to develop theories of change in context of these diverse perspectives. Our guiding future imaginaries must be informed by other academic fields, such as democratic theory and critical theory, and should be co-developed with social science scholars, legal scholars, civil rights and social justice activists, and artists, among others.
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
Transcript: Selling digital books in 2024: Insights from industry leaders - T...BookNet Canada
The publishing industry has been selling digital audiobooks and ebooks for over a decade and has found its groove. What’s changed? What has stayed the same? Where do we go from here? Join a group of leading sales peers from across the industry for a conversation about the lessons learned since the popularization of digital books, best practices, digital book supply chain management, and more.
Link to video recording: https://bnctechforum.ca/sessions/selling-digital-books-in-2024-insights-from-industry-leaders/
Presented by BookNet Canada on May 28, 2024, with support from the Department of Canadian Heritage.
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...Jeffrey Haguewood
Sidekick Solutions uses Bonterra Impact Management (fka Social Solutions Apricot) and automation solutions to integrate data for business workflows.
We believe integration and automation are essential to user experience and the promise of efficient work through technology. Automation is the critical ingredient to realizing that full vision. We develop integration products and services for Bonterra Case Management software to support the deployment of automations for a variety of use cases.
This video focuses on the notifications, alerts, and approval requests using Slack for Bonterra Impact Management. The solutions covered in this webinar can also be deployed for Microsoft Teams.
Interested in deploying notification automations for Bonterra Impact Management? Contact us at sales@sidekicksolutionsllc.com to discuss next steps.
Key Trends Shaping the Future of Infrastructure.pdfCheryl Hung
Keynote at DIGIT West Expo, Glasgow on 29 May 2024.
Cheryl Hung, ochery.com
Sr Director, Infrastructure Ecosystem, Arm.
The key trends across hardware, cloud and open-source; exploring how these areas are likely to mature and develop over the short and long-term, and then considering how organisations can position themselves to adapt and thrive.
UiPath Test Automation using UiPath Test Suite series, part 3DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 3. In this session, we will cover desktop automation along with UI automation.
Topics covered:
UI automation Introduction,
UI automation Sample
Desktop automation flow
Pradeep Chinnala, Senior Consultant Automation Developer @WonderBotz and UiPath MVP
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
AI for Every Business: Unlocking Your Product's Universal Potential by VP of ...
Issue identification cloud computing
1. ISSUE IDENTIFICATION- CLOUD COMPUTING
Girish Subramaniam
I. Issue Background and Definition
One has to be living under a rock these days if the person has not heard of Cloud
Computing. It is anemerging opportunity in IT service delivery, facilitating on-demand
access to shared pools of computing resources—from networks and storage to servers and
applications. On top of efficiencies and cost reductions, it promises rapid delivery of
services for business agility. Adoption is at a very large scale in most of the industries
and a survey reveals two-thirds of responding organizations are planning or adopting
cloud computing.
Still, security and compliance concerns continue to slow adoption—it’s consistently the
number one cited challenge to cloud computing. There is little or no control over business
data (assets of the firm). This is because data lies in physical locations that are mostly
unknown (distributed database).
Lack of Visibility= Lack of Security
Clouds are generally of two types:
1) Public Clouds- that offer compelling scale and cost considerations but does not
address the above concerns
2) Private Cloud- that might be as costly as data centers but offer much better data
security as there is a firewall in place.
2. II. Industry specific focus
The industry that is impacted by the above concerns is the Financial Services Industry-
Banking (Commercial/Retail), Investment Banks, Insurance. The most important element
in this industry is client information. The data is of high criticality and has financial and
reputational risk. Post-recession, tougher regulatory and compliance norms have been put
in place wherein banks are required to focus tremendously on anti-money laundering,
frauds that ultimately lead to proper Data Controls and Security.
As mentioned earlier, Data security is the primary concern for the Financial Services
Industrybefore it adopts the cloud.
The two main criteria to be met are Data Control and Visibility:
1) Control
Availability- Accessing resources (data) and recovering resources in case of
failure
Integrity- Ensuring that only authorized persons have access to information and
application
Confidentiality- Protecting how personal data (information) is obtained and used
2) Visibility
Compliance- Meeting specific regulatory requirements/industry standard & rules
Governance- Establishing usage rights and enforcing policies, procedures &
controls
Risk Management- Managing threats to business risks/interruptions
The above criteria listed are very difficult to meet because of the following reasons:
3. 1) Clouds are generally managed by Cloud Service Provider (external vendors). Data can be
accessed by these vendors and thus a proper agreement needs to be in place for public
clouds to ensure data security.
2) Due to improper backups or application failures, there can be chances of loss of data.
3) Since the data is stored in physical servers, the location of the data is mostly unknown
given the complicated network of databases- especially in public clouds. This makes the
site inspections and audits very hard and complicated.
4) Constant connectivity is a must to ensure continuous access to data.
5) High difficulty in migrating to another Cloud Service Provider.
6) High dependency of the financial health of the Cloud Service Provider
Due to the recession, the financial markets are currently in the red and the banks/institutions
are finding it extremely difficult to make profits. Given that cloud computing is an emerging
technology that helps clients reduce costs, a lot of industries have been adopting it and it has
had an impact on the balance sheet of the firms in those industries. Therefore, financial
industry wants to explore the usage of this technology and thus the above issue holds a lot of
importance and concern for the firms within these industries.
Understanding the Issue
4. It is very important for CIO and managers to get in-depth of the issues and ask questions
such as:
1) Who can see my clients’ data?
2) What regulatory and compliance audits has the firm completed?
3) If the firm doesn’t keep data in its own systems, how can we ensure it is safe?
4) How complicated will my login process be?
5) If a client asks me whether we can guarantee security of his or her data, how should I
answer?
6) What safeguards are in place to ensure data is never viewed by someone who
shouldn’t see it?
7) If the system is compromised, what’s the emergency action plan, and how will that be
communicated to our clients?
The answers to these questions might help them in taking a decision of whether to go
with Cloud Computing.
Not Understanding the Issue
One important thing to consider is that there might be situation in whichfinancial
institutions leave themselves vulnerable to attack because they assume their cloud
provider is taking care of security. Security and cloud hosting are two separate things, but
the cost of entry is so low, and often so simple, that customers may not do as much due
diligence as they should to find out who's responsible for security.
5. Therefore it is very important for CIO’s of banks/insurance firms to understand the issues
with respect to cloud computing.
Source: Cloud Security Myths and Strategies Uncovered- White Paper
Disadvantages of Cloud Computing- White Paper
IBM white paper on Cloud Computing