Tuesday, November 5, 2013

Swiss Building A 'Swiss Cloud' To Sheild Sensitve Financial Data From The NSA

The headquarters of the Swiss banks UBS, left, and Credit Suisse in Zurich. Karin Hofer for The New York Times

Swisscom Builds 'Swiss Cloud' As Spying Storm Rages -- Reuters

ZURICH (Reuters) - Swisscom is building a "Swiss Cloud" that could loosen the grip of U.S. technology giants and attract foreign companies looking for a way to shield sensitive data from the prying eyes of foreign intelligence services.

Companies are increasingly turning to cloud computing - an umbrella term for technology services such as email and business software offered remotely via the Internet instead of on-site - to cut costs and add flexibility to their IT departments.

But revelations that the U.S. National Security Agency (NSA) secretly gathered user data from nine big U.S. tech companies including Google, Apple and Facebook has demonstrated that privacy for users of cloud services can be compromised, and some suggest customers could seek out alternatives to the dominant U.S. providers to try and protect sensitive information.

Read more ....

My Comment: NSA monitoring of international financial transactions is upsetting the Europeans. Additional reports (see here and here) has only added to these privacy concerns. As a result .... a  "Swisscloud" will probably be well received .... if they can keep the NSA out.

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