We publish requirements for IT outsourcing and cloud service providers for financial organizations The Federation Council approved a law setting information security requirements for involved organizations, including the protection of restricted information. The law will enter into force one year after its official publication. Banks, insurance companies and other regulated organizations must notify the Bank of Russia of their intention to attract outsourcing companies. The latter, in turn, along with financial organizations, will be responsible for disclosing the information they received from them. Providers of information technology and cloud services will be required to conduct an annual external audit of compliance with the established requirements with the involvement of organizations that have a license from the FSB of Russia or FSTEC of Russia. The law also defines the requirements that must be met in an agreement between a financial institution and a service provider. Innovations will allow financial organizations to more effectively resist cyber attacks carried out through the providers' infrastructure, as well as reduce the likelihood of leaks of customer data on the part of the organizations involved.

We publish requirements for IT outsourcing and cloud service providers for financial organizations The Federation Council approved a law setting information security requirements for involved organizations, including the protection of restricted information. The law will enter into force one year after its official publication. Banks, insurance companies and other regulated organizations must notify the Bank of Russia of their intention to attract outsourcing companies. The latter, in turn, along with financial organizations, will be responsible for disclosing the information they received from them. Providers of information technology and cloud services will be required to conduct an annual external audit of compliance with the established requirements with the involvement of organizations that have a license from the FSB of Russia or FSTEC of Russia. The law also defines the requirements that must be met in an agreement between a financial institution and a service provider. Innovations will allow financial organizations to more effectively resist cyber attacks carried out through the providers' infrastructure, as well as reduce the likelihood of leaks of customer data on the part of the organizations involved.