The Central Bank has developed a bill simplifying the circulation of materials with bank secrecy

The Bank of Russia intends to allow banks to outsource the development of IT solutions and the storage of information with bank secrecy in cloud services. Savva Morozov, consultant of the Control and Monitoring Methodology Department of the Information Security Department of the Central Bank, spoke about the work on the draft law “for the possibility of transferring relevant types of secrets” at the annual meeting of the ARPP “Domestic Soft”. The representative of the Central Bank told Vedomosti that the document is ready and is at the stage of interdepartmental coordination.

Banks need IT contractors to provide services to clients, because they cannot develop all the necessary solutions on their own, says Alexey Lukatsky, Positive Technologies information security business consultant. At the same time, the use of cloud services among banks is rare precisely because banks are afraid to work with external clouds without security guarantees and the ability to control these services, he continues. Therefore, the adoption of the law proposed by the Central Bank may increase their popularity among financial institutions, the expert added.