by Sarah M. Glaser, Esq., Associate, Saxon, Gilmore, Carraway & Gibbons, P.A.
In June 2012, the Federal Financial Institutions Examination Counsel (“FFIEC”), an interagency body that supplies standards, reports and principles for financial institutions, published a statement setting forth risks and issues related to outsourced cloud computing activities.
Cloud computing involves using the internet to connect financial service providers, their vendors, and consumers. The FFIEC’s statement highlights the benefits and risks of using cloud computing and provides cautions to financial service providers and consumers alike.
For more information on the risks associated with cloud computing, please click here.
© 2013 Saxon Gilmore. Saxon Gilmore publications should not be construed as legal advice on any specific facts or circumstances. The contents are intended for general information and educational purposes only, and should not be relied on as if it were advice about a particular fact situation. The distribution of this publication is not intended to create, and receipt of it does not constitute, an attorney-client relationship with Saxon Gilmore. This publication may not be quoted or referred to in any other publication or proceeding without the prior written consent of the firm, to be given or withheld at our discretion. To request reprint permission for any of our publications, please use our Contact form via the link below. This site may contain hypertext links to information created and maintained by other entities. Saxon Gilmore does not control or guarantee the accuracy or completeness of this outside information, nor is the inclusion of a link to be intended as an endorsement of those outside sites.