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Finance managers should 'enter cloud with caution'.

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The majority of UK finance leaders believe responsibility for the protection of business data placed in cloud data storage rests with the service provider, despite EU law placing accountability for lost or compromised data firmly in the hands of the data owner.

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That's according to research carried out by Iron Mountain, which also revealed that more than 35 per cent of finance managers believe it is appropriate to store confidential accounts, invokes, insurance claims and tax records in the cloud, compared with 32 per cent of IT managers.

Finance managers are also less likely to worry about data protection than IT professionals (49 per cent compared to 55 per cent), security and compliance issues (45 per cent compared to 49 per cent), and whether or how data might be copied and moved around (23 per cent compared to 25 per cent), the survey found.

Christian Toon, head of information risk at Iron Mountain Europe, said the results show that Europe's financial decision-makers could be embracing the cloud without fully grasping the risks and implications.

"Lose or...

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