- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aly McDevitt2023-02-24T21:33:00
Shifting business to the cloud has its appeals. Platforms like Microsoft Azure, Amazon Web Services, and Google Cloud Platform offer economies of scale, enhanced security, and access to newer technologies like artificial intelligence and machine learning, capabilities smaller organizations might not have the resources to develop in-house. Much of the hype around the cloud revolves around these advantages, but there are disadvantages, too.
A panel of cybersecurity experts, joined by a chief compliance officer in the financial services industry, discussed the risks and opportunities associated with moving to the cloud at Compliance Week’s virtual Cyber Risk & Data Privacy Summit. Despite being users and proponents of the cloud, the panelists listed far more cons—or rather, caveats—than pros.
Outsourcing trust to a third party raises obvious security and privacy risks, especially when managed service providers are a known target for state-sponsored attackers, as seen with Chinese hacker group APT10. That’s just to start.
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When organizations move their data or operations to the cloud, the compliance team has their work cut out and then some, experts discussed at CW’s Cyber Risk & Data Privacy Summit.
The global average cost of a data breach reached a new all-time high of $4.45 million in 2023, according to IBM’s annual report.
Shifting your organizational structure to align with a capability-based operating model can help you focus on delivering outcomes for customers, instead of concentrating on different departments and processes.
American Water Works Company, which supplies drinking water and wastewater to 14 million customers, disclosed a breach of its computer networks and system due to a cybersecurity incident.
The global average cost of a data breach jumped to an all-time high for the second year in a row, but companies can reel in the ballooning drag on profits by adopting artificial intelligence, according to an IBM report.
The U.S. Department of Energy released supply chain cybersecurity principles meant to help strengthen key technologies used to manage and operate electricity, oil, and natural gas systems.
