There are concerns that financial institutions that rely on mainstream cloud services such as Amazon Web Services may fall foul of forthcoming European laws on data security.
The General Data Protection Regulation (GDPR), which comes into force in May next year, contains a number of requirements for companies on behalf of consumers — although it is not yet known precisely how they will fit into national law.
One particular provision — the “right to be forgotten” — may end up causing significant trouble for those companies who use popular cloud service providers suchas Amazon Web Services to run their data operations.
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