Regulatory Alerts2017-07-05
Added
Cloud Computing
This Directive, applicable to banking corporations and credit card companies, cancels the previous requirement for a permit before any use of cloud-computing technologies, now requiring permits only for specific cases such as applications involving sensitive information, potential attack vectors, or critical service impairment. It prohibits the use of cloud-computing technologies for core activities and/or core systems. The Directive mandates ongoing risk assessments for all cloud applications, due diligence on service providers, independent monitoring of security incidents, and specific contractual clauses for unilateral termination and data deletion upon contract cessation. These provisions are effective immediately.
More like this from BOI
We email you every new BOI publication the day it's published.