Federal Financial Institutions Examination Council issued guidance for financial institutions regarding cloud engagements. The FFIECs primary point was: treat cloud engagements as you would any other outsourced technology engagement. Many businesses start with the premise that they have to expect far less protection than they would receive in a traditional technology transaction. That is very unfortunate, but highlights the current state of cloud contracting. I suggest every business start their cost/benefit analysis of a potential cloud engagement by asking the same questions and expecting the same level of protection.”]
Source: https://www.csoonline.com/article/2136687/thoughts-on-entering-into-cloud-engagements.html