Heavily regulated industries like banking and healthcare have been reluctant to make the virtualized leap to the cloud, fearing a loss of control could open them to unforeseen risk. Are their concerns unfounded?
The Department of Homeland Security is undertaking nine private and three public cloud computing initiatives, establishing private cloud services to manage sensitive but unclassified information while using the public cloud for non-sensitive data.
"It should provide fuel for anyone calling for data breach legislation to include criminal sanctions ...," says Neal O'Farrell of the Identity Theft Council. "This was nothing short of a clumsy cover-up."
"With a company-issued device, you can issue a policy that says users have no rights of privacy over information on the device," says Javelin's Tom Wills. But with employee-owned devices? A whole new set of issues.
Information security poses a major challenge to the widespread adoption of cloud computing, yet the Cloud Security Alliance, an association of cloud stakeholders, sees the cloud as a provider of information security services.
"The more that you could focus in on computer science topics, to understand programming, network-based technology and mobile-based technology, the better off you're going to be," says Rob Lee of SANS Institute.
With the extension of ENISA's mandate into 2013 by the European Parliament & Council, the agency can continue to educate and collaborate with other nations on cybersecurity issues, an area of constant importance.
ISACA's Marc Vael says differences in cloud computing environments and cloud providers can pose security risks. But well thought-out contracts and risk-management plans can fill potential security gaps and ensure business continuity during outages and disasters.
Looking at the international stock market crash and the impact it's likely to have on future investments in fraud detection and prevention, how much can banks and credit unions reasonably afford, when economic stability is shaky and the financial future uncertain?