Regulators are getting nervous about the risks emanating from data storage and processing platforms dominated by a handful of big companies. In fact, the US Treasury just announced the launch of a new oversight committee called the “Cloud Executive Steering Group” to explore these risks.
| less than a minute read
A new threat to financial stability lurks in the cloud
“Due to the different legal authorities for each agency, no single agency can see across the many use cases and the network of dependencies on cloud services within the financial sector,” the FBIIC report observed. In plain English: this is a fog.
