US Treasury, FSSCC publish resources on secure cloud adoption

According to officials, the completion of these efforts follows almost two years of partnership to further protect the US financial system. Also, it is mentioned that the Cloud Executive Steering Group (CESG), which was established by the US Department of the Treasury in May 2023, is a proven model and new method for the financial services sector to address the most significant cybersecurity difficulties. The CESG model supports a substantial level of public-private partnership between Treasury, FBIIC, FSSCC, and CSPs. In addition, under joint FBIIC and FSSCC leadership, the US Treasury and FSSCC intend to publish more items related to cloud cyber incident response coordination and cloud concentration risk.

Furthermore, the collective set of deliverables provided by the FSSCC, including Cloud Profile 2.0, the Financial Sector Cloud Outsourcing Issues and Considerations document, the Transparency and Monitoring for Better Secure-by-Design document, the Cloud Lexicon, and the Coordinated Information Sharing and Examinations Initiative, is set to underline possible opportunities to utilise CESG deliverables into the broader regulatory, oversight, and examination schema. Additionally, the deliverables aim to solidify the shared responsibility model for cloud services provision in the financial services sector.