Cloud Adoption - Cybersecurity Opportunity, Threats and Practices

The current COVID19 pandemic outbreak has arguably been a wakeup call for most organizations that faced increasing difficulties operating from the traditional on-premise model. Unknowingly, many organizations might not have been aware that they have been directly or indirectly accessing a wide variety of cloud computing services with services such as Microsoft 0365, emerging technologies such as Internet of Things (IoT) and practices such as big data analytics. As another example, Malaysia's central bank releasing of its Risk Management in Technology (RMiT) guidelines last year has arguably spurred disruption that led to more rapid digital transformation which includes the movement to the cloud within the financial services industry. Based on the guideline's recommendation, financial institutions could adopt cloud services as long as they have performed comprehensive risk assessment prior to the adoption. This presentation will deliver awareness of cloud security by covering some of the common cloud risks and potential challenges faced with cloud adoption. There will be sharing as well of appropriate security controls be it from management or assurance perspectives that organizations should consider when moving to the cloud.