iCloud Hack Underscores Risk to Banks When Employees Use Cloud

American Banker
Tuesday, September 2, 2014

The recent iCloud hack that led to the theft of celebrity photos from Apple's popular cloud storage service has fueled concerns about the safety of the data banks and their employees store in the cloud. Analysts warn that any service which backs up data to an external cloud server introduces a degree of security risk. Apple's iCloud was particularly vulnerable because some Apple service logins lacked brute force protection -- a measure which would have prevented hackers from entering thousands of randomly generated password guesses searching for a correct match. Security experts advise opting for solutions that require multi-factor authentication when remotely accessing data.