Data Privacy, Compliance, and Security in Cloud Computing for Finance

Abstract

In the rapidly evolving landscape of finance, where data integrity and security are paramount, the adoption of cloud computing presents both opportunities and challenges. This chapter explores the intricate intersection of data privacy, compliance, and security within the context of cloud computing for the finance sector. It delves into the unique requirements and regulatory frameworks governing financial data, highlighting the critical importance of safeguarding sensitive information while leveraging the benefits of cloud technology. The chapter begins by examining the evolving landscape of cloud computing in the financial industry, discussing the drivers behind its adoption and the transformative potential it offers for enhancing operational efficiency and scalability. However, it also addresses the inherent risks associated with cloud-based solutions, particularly concerning data privacy and security breaches.