Ensuring Compliance in IaaS: Addressing Regulatory Requirements in Cloud

Ensuring Compliance in IaaS: Addressing Regulatory
Stay ahead of the curve and navigate the complex landscape of regulatory obligations to safeguard data in cloud. Explores the challenges of maintaining compliance and strategies for risk mitigation.

Contents
1. Introduction
2. 3 Essential Regulatory Requirements
3. Challenges in Ensuring Compliance in Infrastructure as a Service in Cloud Computing 4. Strategies for Addressing Compliance Challenges in IaaS
5. Conclusion


1. Introduction


Ensuring Infrastructure as a Service (IaaS) compliance in security is crucial for organizations to meet regulatory requirements and avoid potential legal and financial consequences. However, several challenges must be addressed before and after migration to the cloud. This article provides an overview of the regulatory requirements in cloud computing, explores the challenges faced in ensuring compliance in IaaS, a cloud implementation service and provides strategies for addressing these challenges to ensure a successful cloud migration.


2. 3 Essential Regulatory Requirements


When adopting cloud infrastructure as a service, organizations must comply with regulatory requirements before, during, and after migration to the cloud. This ensures avoiding the challenges, firms may face later and suggest solutions if they do so.


2.1 Before migration:


Organizations must identify the relevant regulations that apply to their industry and geographic location. This includes: Data Protection Laws, Industry-Specific Regulations, and International Laws.


2.2. During migration:


Organizations must ensure that they meet regulatory requirements while transferring data and applications to the cloud. This involves: Ensuring proper access management, data encryption, and data residency requirements.


2.3. After migration:


Organizations must continue to meet regulatory requirements through ongoing monitoring and reporting. This includes: Regularly reviewing and updating security measures, ensuring proper data protection, and complying with audit and reporting requirements.


3. Challenges in Ensuring Compliance in Infrastructureas a Service in Cloud Computing


3.1. Shared Responsibility Model


The lack of control over the infrastructure in IaaS cloud computing is caused by the shared responsibility model of IaaS, where the cloud service provider is responsible for the IaaS security while the customer is responsible for securing the data and applications they store and run in the cloud. According to a survey, 22.8% of respondents cited the lack of control over infrastructure as a top concern for cloud security. (Source: Cloud Security Alliance)


3.2. Data Breach


Data breaches have serious consequences for businesses, including legal and financial penalties, damage to their reputation, and the loss of customer trust. The location of data and the regulations governing its storage and processing create challenges for businesses operating in multiple jurisdictions. The global average total cost of a data breach increased by USD 0.11 million to USD 4.35 million in 2022, the highest it's been in the history of this report. The increase from USD 4.24 million in the 2021 report to USD 4.35 million in the 2022 report represents a 2.6% increase. (Source: IBM)


3.3. Access Mismanagement


Insider threats, where authorized users abuse their access privileges, can be a significant challenge for access management in IaaS. This includes the intentional or accidental misuse of credentials or non-protected infrastructure and the theft or loss of devices containing sensitive data. The 2020 data breach investigations report found that over 80% of data breaches were caused by compromised credentials or human error, highlighting the importance of effective access management. (Source: Verizon)


3.4. Audit and Monitoring Challenges


Large volumes of alerts overwhelm security teams, leading to fatigue and missed alerts, which result in non-compliance or security incidents going unnoticed. Limited resources may also make it challenging to effectively monitor and audit infrastructure as a service cloud environment, including the implementation and maintenance of monitoring tools.


4. Strategies for Addressing Compliance Challenges in IaaS


4.1. Risk Management and Assessment


Risk Assessment and Management includes conducting a risk assessment, including assessing risks related to data security, access controls, and regulatory compliance. It also involves implementing risk mitigation measures to address identified risks, like additional security measures or access controls such as encryption or multi-factor authentication.


4.2. Encryption and Collaboration with Cloud Service Providers


Encryption can be implemented at the application, database, or file system level, depending on the specific needs of the business. In addition, businesses should establish clear service level agreements with their cloud service provider related to data protection. This includes requirements for data security, access controls, and backup and recovery processes.


4.3. Contractual Agreements


The agreement should also establish audit and compliance requirements, including regular assessments of access management controls and policies. Using contractual agreements, organizations help ensure that they are clearly defined and that the cloud service provider is held accountable for implementing effective access management controls and policies.


4.4. Compliance Monitoring and Reporting


Monitoring and Reporting involves setting up automated monitoring and reporting mechanisms that track compliance with relevant regulations and standards and generate reports. They should also leverage technologies such as intrusion detection and prevention systems, security information and event management (SIEM) tools, and log analysis tools to collect, analyze, and report on security events in real time.


5. Conclusion


In accordance with the increasing prevalence of data breaches and the growing complexity of regulatory requirements, maintaining a secure and compliant cloud environment will be crucial for businesses to build trust with customers and avoid legal and financial risks. Addressing these requirements, the cloud helps companies maintain data privacy, avoid legal risks, and build customer trust. Organizations create a secure and compliant cloud environment that meets their needs by overcoming challenges and implementing best practices, working closely with cloud service providers. Ultimately, by prioritizing compliance and investing in the necessary resources and expertise, businesses can navigate these challenges and unlock the full potential of the cloud with confidence.

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dxFeed Launches Market Data IaaS Project for Tradu, Assumes Infrastructure and Data Provision Responsibilities

PR Newswire | January 25, 2024

dxFeed, a global leader in data solutions and index management for the financial industry, announces the launch of an Infrastructure as a Service (IaaS) project for Tradu, an advanced multi-asset trading platform catering to active traders and investors. In this venture, dxFeed manages the crucial aspects of infrastructure and data provision for Tradu. As an award-winning IaaS provider (the Best Infrastructure Provider by the Sell-Side Technology Awards 2023), dxFeed is poised to address all technical challenges related to market data delivery to hundreds of thousands of end users, allowing Tradu to focus on its core business objectives. Users worldwide can seamlessly connect to Tradu's platform, receiving authorization tokens for access to high-quality market data from the EU, US, Hong Kong, and Australian Exchanges. This approach eliminates the complexities and bottlenecks associated with building, maintaining, and scaling the infrastructure required for such extensive global data access. dxFeed's scalable low latency infrastructure ensures the delivery of consolidated and top-notch market data from diverse sources to the clients located in Asia, Americas and Europe. With the ability to rapidly reconfigure and accommodate the growing performance demands, dxFeed is equipped to serve hundreds of thousands of concurrent clients, with the potential to scale the solution even further in order to meet the constantly growing demand, at the same time providing a seamless and reliable experience. One of the highlights of this collaboration is the introduction of brand-new data feed services exclusively for Tradu's Stocks platform. This proprietary solution enhances Tradu's offerings and demonstrates dxFeed's commitment to delivering tailored and innovative solutions. Tradu also benefits from dxFeed's Stocks Radar—a comprehensive technical and fundamental market analysis solution. This Software as a Service (SaaS) seamlessly integrates with infrastructure, offering added value to traders and investors by simplifying complex analytical tasks. Moreover, Tradu leverages the advantages of dxFeed's composite feed (the winner at The Technical Analyst Awards). This accolade reinforces dxFeed's commitment to delivering excellence in data provision, further solidifying Tradu's position as a global leader in online foreign exchange. "When we were thinking of our new sophisticated multi-asset trading platform for the active trader and investors we met with the necessity of expanding instrument and user numbers. We realized we needed a highly competent, professional team to deploy the infrastructure, taking into account the peculiarities of our processes and services," said Brendan Callan, CEO of Tradu. "On the one hand, it allows our clients to receive quality consolidating data from multiple sources. On the other hand, as a leading global provider of online foreign exchange, we can dispose of dxFeed's geo-scalable infrastructure and perform rapid reconfiguration to meet growing performance demands to provide data to hundreds of thousands of our clients around the globe." "The range of businesses finding the Market Data IaaS (Infrastructure as a Service) model appealing continues to expand. This approach is gaining traction among various enterprises, from agile startups seeking rapid development to established, prominent brands acknowledging the strategic benefits of delegating market data infrastructure to specialized firms," said Oleg Solodukhin, CEO of dxFeed. By taking on the responsibilities of infrastructure and data provision, dxFeed empowers Tradu to focus on innovation and client satisfaction, setting the stage for a transformative journey in the dynamic world of financial trading. About dxFeed dxFeed is a leading market data and services provider and calculation agent for the capital markets industry. According to the WatersTechnology 2022 IMD & IRD awards honors, it's the "Most Innovative Market Data Project." dxFeed focuses primarily on delivering financial information and services to buy- and sell-side institutions in global markets, both traditional and crypto. That includes brokerages, prop traders, exchanges, individuals (traders, quants, and portfolio managers), and academia (educational institutions and researchers). Follow us on Twitter, Facebook, and LinkedIn. Contact dxFeed: pr@dxfeed.com About Tradu Tradu is headquartered in London with offices around the world. The global Tradu team speaks more than two dozen languages and prides itself on its responsive and helpful client support. Stratos also operates FXCM, an FX and CFD platform founded in 1999. Stratos will continue to offer FXCM services alongside Tradu's multi-asset platform.

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IT Systems Management

ICANN ANNOUNCES GRANT PROGRAM TO SPUR INNOVATION

PR Newswire | January 16, 2024

The Internet Corporation for Assigned Names and Numbers (ICANN), the nonprofit organization that coordinates the Domain Name System (DNS), announced today the ICANN Grant Program, which will make millions of dollars in funding available to develop projects that support the growth of a single, open and globally interoperable Internet. ICANN is opening an application cycle for the first $10 million in grants in March 2024. Internet connectivity continues to increase worldwide, particularly in developing countries. According to the International Telecommunication Union (ITU), an estimated 5.3 billion of the world's population use the Internet as of 2022, a growth rate of 6.1% over 2021. The Grant Program will support this next phase of global Internet growth by fostering an inclusive and transparent approach to developing stable, secure Internet infrastructure solutions that support the Internet's unique identifier systems. "With the rapid evolution of emerging technologies, businesses and security models, it is critical that the Internet's unique identifier systems continue to evolve," said Sally Costerton, Interim President and CEO, ICANN. "The ICANN Grant Program offers a new avenue to further those efforts by investing in projects that are committed to and support ICANN's vision of a single, open and globally interoperable Internet that fosters inclusion amongst a broad, global community of users." ICANN expects to begin accepting grant applications on 25 March 2024. The application window will remain open until 24 May 2024. A complete list of eligibility criteria can be found at: https://icann.org/grant-program. Once the application window closes, all applications are subject to admissibility and eligibility checks. An Independent Application Assessment Panel will review admissible and eligible applications and the tentative timeline to announce the grantees of the first cycle is in January of 2025. Potential applicants will have several opportunities to learn more about the Call for Proposals and ask ICANN Grant Program staff members questions through question-and-answer webinar sessions in the coming months. For more information on the program, including eligibility and submission requirements, the ICANN Grant Program Applicant Guide is available at https://icann.org/grant-program. About ICANN ICANN's mission is to help ensure a stable, secured and unified global Internet. To reach another person on the Internet, you need to type an address – a name or a number – into your computer or other device. That address must be unique so computers know where to find each other. ICANN helps coordinate and support these unique identifiers across the world.

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Application Infrastructure

Legrand Acquires Data Center, Branch, and Edge Management Infrastructure Market Leader ZPE Systems, Inc.

Legrand | January 15, 2024

Legrand, a global specialist in electrical and digital building infrastructures, including data center solutions, has announced its acquisition is complete of ZPE Systems, Inc., a Fremont, California-based company that offers critical solutions and services to deliver resilience and security for customers' business critical infrastructure. This includes serial console servers, sensors, and services routers that enable remote access and management of network IT equipment from data centers to the edge. The acquisition brings together ZPE's secure and open management infrastructure and services delivery platform for data center, branch, and edge environments to Legrand's comprehensive data center solutions of overhead busway, custom cabinets, intelligent PDUs, KVM switches, and advanced fiber solutions. ZPE Systems will become a business unit of Legrand's Data, Power, and Control (DPC) Division. Arnaldo Zimmermann will continue to serve as Vice President and General Manager of ZPE Systems, reporting to Brian DiBella, President of Legrand's DPC Division. "ZPE Systems leads the fast growing and profitable data center and edge management infrastructure market. This acquisition allows Legrand to enter a promising new segment whose strong growth is expected to accelerate further with the development of artificial intelligence and associated needs," said John Selldorff, President and CEO, Legrand, North and Central America. "Edge computing, AI and operational technology will require more complex data centers and edge infrastructure with intelligent IT needs to be built in disparate remote geographies. This makes remote management and operation a critical requirement. ZPE Systems is well positioned to address this need through high performance automation infrastructure solutions, which are complementary to our current data center offerings." "By joining forces with Legrand, ZPE Systems is advancing our leadership position in management infrastructure and propelling our technology and solutions to further support existing and new market opportunities," said Zimmermann. About Legrand and Legrand, North and Central America Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for commercial, industrial, and residential markets makes it a benchmark for customers worldwide. The Group harnesses technological and societal trends with lasting impacts on buildings with the purpose of improving lives by transforming the spaces where people live, work, and meet with electrical, digital infrastructures and connected solutions that are simple, innovative, and sustainable. Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing its strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings—including products with enhanced value in use (faster expanding segments: data centers, connected offerings and energy efficiency programs). Legrand reported sales of €8.0 billion in 2022. The company is listed on Euronext Paris and is notably a component stock of the CAC 40 and CAC 40 ESG indexes.

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