Navigating the Nuances of Cloud Concentration Risks – BankInfoSecurity.com

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Axiata’s Abid Adam Discusses Factors to Keep in Mind When Choosing a Cloud Vendor

Abid Adam, group chief risk and compliance officer, Axiata

The move to cloud has uncovered a range of risks that enterprises might inadvertently overlook. Cloud transition often highlights the problem of cloud concentration risk – a multifaceted challenge encompassing vendor, availability, business continuity and regulatory risks, said Abid Adam, group chief risk and compliance officer at Axiata.

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“For vendor risk, if you are exposed highly to one cloud provider, the risk you may face is reduced negotiation power when you have to renew the contract,” Adam said. “Then there is availability risk. We have seen quite a few times now that there has been a broad scope of impact and outages globally. So, when you put all eggs in one basket, you have availability risk that you need to manage.”

In this video interview with Information Security Media Group, Adam discussed:

  • How to ensure a clear exit strategy;
  • Various aspects of cloud concentration risk;
  • The top considerations when selecting a cloud services provider.

Adam provides strategic direction, implementation, oversight and guidance on cybersecurity, data privacy, enterprise risk management and compliance/ethics.

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