Moving securely to the cloud

Moving securely to the cloud

Trend Micro
Published by: Research Desk Released: May 27, 2022

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As an IT security manager at a bank, insurance company or financial services provider, you are use to maintaining high standards of security. After all, your company is a critical organization and is increasingly targeted by cybercriminals.

Now, your job is about to get even harder, because parts of the data center are being outsourced to the cloud. Undoubtedly, this brings well-known advantages such as better scalability, more flexibility, lower hardware costs, and less administration effort. But, contrary to belief, the cloud is not an all-in-one, carefree package and disruptive developments are making the move harder. For example, the EU’s second payment services directive (PSD2) opens up payment transactions to third parties; for this form of open banking, banks need completely new security concepts to protect customer data.

In terms of security, the principle of shared responsibility dictates that the provider ensures the security of the hardware, software, network, and facilities on which the cloud service is run. However, you are responsible for everything you operate within the cloud, such as your applications, data, and the overall operating system (OS).