Friday, 24 March, 2023

Banks in EU Face Stricter Regulations on Use of Cloud Computing Giants

<p>Financial firms in the European Union will be required to demonstrate how quickly they can recover from a cyber attack as they rely more on &#39;cloud computing&#39; giants such as Amazon, Microsoft, Google, and IBM for key services, according to the EU. Regulators are concerned about the speed and scale with which banks, insurers, and investment firms are shifting critical functions and market operations to a few cloud platforms.</p>