Cloud Computing And Banking Security

Grazed from CloudTweaks. Author: Abdul Salam.

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…

Read more from the source @ http://www.cloudtweaks.com/2013/02/cloud-computing-and-banking-security/