Legal problems of using cloud services of foreign providers by Russian banks

Abstract

The paper examines the legal aspects of the use of cloud solutions by Russian banks of foreign providers. Despite the obvious advantages, there are many obstacles to such a use in the Russian legislation, including the lack of general regulation of cloud computing services, requirements for information security (licensing of encryption activities, certification of information systems), requirements of legislation on the localization of personal data databases, electronic databases of banks, etc. Based on the analysis of existing regulations, in particular the industry regulators, the author comes to the conclusion that foreign cloud service providers have the right to provide services to Russian financial institutions under certain conditions: cloud solutions should not include outsourcing of business functions entirely and should not involve the production of internal (domestic) money transfers (payments); foreign cloud provider has taken measures to protect the protected information; cross-border transfer of personal data and bank secrecy should be carried out in an impersonal form, etc.