SECP Issues Drafts Guidelines To Protect Companies From Cyber Attacks

In recent news, the Securities and Exchange Commission of Pakistan (SECP) had issued draft cloud adoption guidelines for the registered companies in order to secure their respective data from cyber attacks.

Moreover, the companies have to ensure that their cloud service providers are located in any hostile country such as India, Israel, etc. These guidelines include an efficient procedure for the transition to cloud computing and the risks and benefits of moving to the cloud in comparison to traditional computing systems.

These guidelines have been based on the Pakistan Cloud First Policy (PCFP) 2021, and the National Cybersecurity Policy 2021 issued by the Ministry of IT & Telecommunication.

Moreover, the SECP stated that the secret information of any business will require the company to have the highest form of security through the cloud as it offers not only high security but convenient, on-demand access to a shared pool of resources and services over the internet.

These resources are provided and later on maintain by the cloud service providers and users can avail of these services by paying a small amount fee for the services they use.