Cloud Computing And Banking Security

Cloud Computing and Banking Security

I have talked about security in cloud computing many times before, explaining why it is just as safe as conventional networking security, even citing its benefits over the conventional. However, there are many who still find cloud computing security lacking.

Individuals which still worry about cloud security, are those that fall under the financial institution category like banks, brokers, lenders and the like. They do not trust third party cloud computing providers and vendors, at least not with their most sensitive information and data. They might use cloud computing for some things like websites and applications that they think they can risk security with, but they would never consider parting with direct access of their financial and other similar data.

The biggest reason behind this is simpler than most would imagine as it has something to do with numbers and probability, thought they probably would not admit it is something as basic as that and would rather cite some technical issue like migration and data integrity. Those are valid points, but they are not truly even problems. With ease and security of data migration through cloning and inter-server data transfers with services like Cloud Velocity, migration is truly a no pain no worry process. The real reason as I have said is the probability of a successful attack. Government systems and financial data systems are under attack multiple times a day, and a sizeable majority of these fail at the first lines of defense. The probability of a successful attack is always real, and this probability of success increases as the number of attempts increases.

When data systems reside behind closed and secret doors, very few people will be able to access it, never mind knowing about it. However, the moment that data resides in the cloud, a sign bearing the words “Step right! Take your chance to earn millions of dollars!” goes up as well; it is inherently an invite to all attackers of all skill levels to at least try. Inevitably the success of an unscrupulous individual/s will prevail. A basic analogy would be to keeping a jar of cookies on a high table when there are a lot of kids around as opposed to keeping it out of reach and out of sight inside the cupboard.

In this case, it’s not a matter of technology but a matter of probability. No matter how advanced your security measures are men can open locks that are made by other men, it is best to keep those that try to a minimum.

By Abdul Salam

Sorry, comments are closed for this post.

Comics
3 Keys To Keeping Your Online Data Accessible

3 Keys To Keeping Your Online Data Accessible

Online Data Data storage is often a real headache for businesses. Additionally, the shift to the cloud in response to storage challenges has caused security teams to struggle to reorient, leaving 49 percent of organizations doubting their experts’ ability to adapt. Even so, decision makers should not put off moving from old legacy systems to…

Cloud Services Providers – Learning To Keep The Lights On

Cloud Services Providers – Learning To Keep The Lights On

The True Meaning of Availability What is real availability? In our line of work, cloud service providers approach availability from the inside out. And in many cases, some never make it past their own front door given how challenging it is to keep the lights on at home let alone factors that are out of…

Two 2017 Trends From A Galaxy Far, Far Away

Two 2017 Trends From A Galaxy Far, Far Away

Reaching For The Stars People who know me know that I’m a huge Star Wars fan. I recently had the opportunity to see Rogue One: A Star Wars Story. While I won’t give any spoilers away for the few who haven’t seen the movie yet, I do want to mention a couple of trends from…

Three Tips To Simplify Governance, Risk and Compliance

Three Tips To Simplify Governance, Risk and Compliance

Governance, Risk and Compliance Businesses are under pressure to deliver against a backdrop of evolving regulations and security threats. In the face of such challenges they strive to perform better, be leaner, cut costs and be more efficient. Effective governance, risk and compliance (GRC) can help preserve the business’ corporate integrity and protect the brand,…

How To Overcome Data Insecurity In The Cloud

How To Overcome Data Insecurity In The Cloud

Data Insecurity In The Cloud Today’s escalating attacks, vulnerabilities, breaches, and losses have cut deeply across organizations and captured the attention of, regulators, investors and most importantly customers. In many cases such incidents have completely eroded customer trust in a company, its services and its employees. The challenge of ensuring data security is far more…

Connecting With Customers In The Cloud

Connecting With Customers In The Cloud

Customers in the Cloud Global enterprises in every industry are increasingly turning to cloud-based innovators like Salesforce, ServiceNow, WorkDay and Aria, to handle critical systems like billing, IT services, HCM and CRM. One need look no further than Salesforce’s and Amazon’s most recent earnings report, to see this indeed is not a passing fad, but…

Your Biggest Data Security Threat Could Be….

Your Biggest Data Security Threat Could Be….

Paying Attention To Data Security Your biggest data security threat could be sitting next to you… Data security is a big concern for businesses. The repercussions of a data security breach ranges from embarrassment, to costly lawsuits and clean-up jobs – particularly when confidential client information is involved. But although more and more businesses are…

How To Humanize Your Data (And Why You Need To)

How To Humanize Your Data (And Why You Need To)

How To Humanize Your Data The modern enterprise is digital. It relies on accurate and timely data to support the information and process needs of its workforce and its customers. However, data suffers from a likability crisis. It’s as essential to us as oxygen, but because we don’t see it, we take it for granted.…

Adopting A Cohesive GRC Mindset For Cloud Security

Adopting A Cohesive GRC Mindset For Cloud Security

Cloud Security Mindset Businesses are becoming wise to the compelling benefits of cloud computing. When adopting cloud, they need a high level of confidence in how it will be risk-managed and controlled, to preserve the security of their information and integrity of their operations. Cloud implementation is sometimes built up over time in a business,…