Regulators Warn Banks Of Cloud Computing Security Risks

Law360, New York (July 10, 2012, 6:48 PM EDT) -- Federal bank regulators on Tuesday cautioned financial institutions to put in place robust controls to minimize any risks to data security associated with using third-party cloud computing services.

The six agencies that make up the Federal Financial Institutions Examination Council issued a four-page statement in response to the growing use of cloud technology, in which software and stored files are accessed on the Internet rather than located on a company's computers. They said banks and financial services companies should do their due diligence before outsourcing to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.