AWS completes the 2023 South Korea CSP Safety Assessment Program
TutoSartup excerpt from this article: Financial services customers can annually either perform an individual audit by using publicly available AWS resources and visiting on-site, or request the South Korea Financial Security Institute (FSI) to conduct the primary audit on their behalf and use the FSI-produced audit reports… In 2023, …
We’re excited to announce that Amazon Web Services (AWS) has completed the 2023 South Korea Cloud Service Providers (CSP) Safety Assessment Program, also known as the Regulation on Supervision on Electronic Financial Transactions (RSEFT) Audit Program. The financial sector in South Korea is required to abide by a variety of cybersecurity standards and regulations. Key regulatory requirements include RSEFT and the Guidelines on the Use of Cloud Computing Services in the Financial Industry (FSIGUC). Prior to 2019, the RSEFT guidance didn’t permit the use of cloud computing. The guidance was amended on January 1, 2019, to allow financial institutions to use the public cloud to store and process data, subject to compliance with security measures applicable to financial companies.
AWS is committed to helping our customers adhere to applicable regulations and guidelines, and we help ensure that our financial customers have a hassle-free experience using the cloud. Since 2019, our RSEFT compliance program has aimed to provide a scalable approach to support South Korean financial services customers’ adherence to RSEFT and FSIGUC. Financial services customers can annually either perform an individual audit by using publicly available AWS resources and visiting on-site, or request the South Korea Financial Security Institute (FSI) to conduct the primary audit on their behalf and use the FSI-produced audit reports. In 2023, we worked again with FSI and completed the annual RSEFT primary audit with the participation of 59 customers.
The audit scope of the 2023 assessment covered data center facilities in four Availability Zones (AZ) of the AWS Asia Pacific (Seoul) Region and the services that are available in that Region. The audit program assessed different security domains including security policies, personnel security, risk management, business continuity, incident management, access control, encryption, and physical security.