This page provides AWS financial institution customers with information about the legal and regulatory requirements in Ireland that may apply to their use of AWS services. 

Regulations

  • Can financial institutions use AWS?

    Yes. Financial institutions in Ireland are permitted to use cloud services, provided that they comply with applicable legal and regulatory requirements, such as those described below. 

  • Who is the financial regulator?

    Banc Ceannais na hÉireann (Central Bank of Ireland) is Ireland’s financial supervisory authority and supervises, inter alia, credit institutions, securities markets and brokers, fund managers, payment services providers, investment firms, and insurance and reinsurance companies. It absorbed the previous regulator, the Irish Financial Services Regulatory Authority in October 2010 to unify monetary policy and regulatory functions.

  • What regulations apply to financial institutions using AWS?

    Financial institutions in Ireland may be subject to a number of different legal and regulatory requirements when they use cloud services. For example, the Central Bank of Ireland has confirmed the applicability of the European Banking Authority Guidelines on outsourcing arrangements issued 25 February 2019 (“EBA Guidelines”) in Ireland. The EBA Guidelines apply to EU-regulated credit institutions, investment firms, electronic money institutions and payment institutions, and provide guidance to these entities when they are using or planning to use cloud services. This guidance covers a variety of contractual and operational areas, including audit rights, security of data and systems, location of data and data processing, sub-outsourcing, and contingency plans and exit strategies. 

    Customers that have questions about the EBA Guidelines, and how these may apply to their use of AWS services, can reach out to their account representative or contact us.

    Local regulations, guidelines, and laws in Ireland may also apply to financial institutions in Ireland when they use cloud services.

    Regulations are changing rapidly in this space, and AWS is working to help customers proactively respond to new rules and guidelines. AWS encourages its financial institutions customers to obtain appropriate advice on their compliance with all regulatory and legal requirements that are relevant to their business, including the EBA Guidelines and local regulations, guidelines, and laws.

  • Key considerations for financial institutions using AWS

    AWS is committed to offering customers a strong compliance framework and advanced tools and security measures that customers can use to evaluate meet, and demonstrate compliance with applicable legal and regulatory requirements.

    Financial institutions who are using or planning to use AWS services can take the following steps to better understand their compliance needs:

    1. Consider the purpose of the workload(s) under consideration and the relevant categories of data in order to anticipate which legal and regulatory requirements may apply.

    2. Assess the materiality or criticality of the relevant workload(s) in light of local requirements. For example, Section 4 of the EBA Guidelines contains materiality assessment considerations for financial institutions.

    3. Review the AWS Shared Responsibility Model and map AWS responsibilities and customer responsibilities according to each AWS service that will be used. Customers can also use AWS Artifact to access AWS’ audit reports and conduct their assessment of the control responsibilities.

    4. Customers who have further questions about how AWS services can enable their security and compliance needs, or who would like more information, can contact their account representative or contact us.

  • Key data privacy and protection considerations for financial institutions using AWS

    Financial institutions in Ireland using AWS services should also consider applicable privacy and security requirements, including the General Data Protection Regulation (“GDPR”), the Data Protection Act 2018 (including applicable provisions in the Data Protection Acts 1988 and 2003) and the European Union (Measures for a High Common Level of Security of Network and Information Systems) Regulations 2018.

    If customers process or are planning to process the personal data of data subjects in the European Union (EU), they should visit AWS’ General Data Protection Regulation (GDPR) Center. More information on these requirements are included in the AWS whitepaper, Navigating GDPR Compliance on AWS.

Resources

  • General
  • Compliance Programs
  • General
  • Navigating GDPR Compliance on AWS

    This document is intended to answer questions such as, ‘How AWS supports customers to become compliant with the General Data Protection Regulation (GDPR).’ Amazon Web Services (AWS) provides customers with services and resources to help them comply with GDPR requirements that may be applicable to their operations. These include AWS’ adherence to the Cloud Infrastructure Services Providers in Europe (CISPE) Code of Conduct, granular data access controls, monitoring and logging tools, encryption, key management, audit capability, adherence to IT security standards and AWS’ Cloud Computing Compliance Controls Catalog (C5) attestations.

    Implications of the Code of Conduct for Cloud Infrastructure Service Providers in Europe

    The goal of the Code is to eliminate barriers to cloud usage by certifying cloud infrastructure or hosting services as compliant with the European data protection regulation, including the GDPR law.

    Payment Card Industry Data Security Standard (PCI DSS) 3.2.1 on AWS

    This guide provides customers with sufficient information to be able to plan for and document the Payment Card Industry Data Security Standard (PCI DSS) compliance of their AWS workloads. This includes the selection of controls that meet specific PCI DSS 3.2.1 requirements, planning of evidence gathering to meet assessment testing procedures, and explaining their control implementation to their PCI Qualified Security Assessor (QSA).

    Using AWS in the Context of Common Privacy and Data Protection Considerations

    This document provides information to assist customers who want to use AWS to store or process content containing personal data, in the context of common privacy and data protection considerations. It will help customers understand the way AWS services operate, including how customers can address security and encrypt their content. The geographic locations where customers can choose to store content and other relevant considerations. The respective roles the customer and AWS each play in managing and securing content stored on AWS services.

    AWS Compliance Quick Reference Guide

    AWS has many compliance-enabling features that you can use for your regulated workloads in the AWS cloud. These features allow you to achieve a higher level of security at scale. Cloud-based compliance offers a lower cost of entry, easier operations, and improved agility by providing more oversight, security control, and central automation.

    AWS Operational Resilience

    The purpose of this paper is to describe how AWS and our customers in the financial services industry achieve operational resilience using AWS services.

    Data Classification and Secure Cloud Adoption

    This paper provides insight into classification schemes for public and private organizations to leverage when moving data to the cloud. It identifies practices and models currently implemented by global first movers and early adopters, examines how implementation of these schemes can simplify cloud adoption, and recommends practices to harmonize national requirements to internationally recognized standards and frameworks.

    AWS Policy Perspectives: Data Residency

    This paper addresses: The real and perceived security risks expressed by governments when they demand in-country data residency. Commercial, public sector, and economic impact of in-country data residency policies with a focus on government data. Considerations for governments to evaluate before enforcing requirements that can unintentionally limit public sector digital transformation goals leading to increased cybersecurity risk.

    AWS Risk and Compliance

    This document is intended to provide information to assist AWS customers with integrating AWS into their existing control framework supporting their IT environment. This document includes a basic approach to evaluating AWS controls and provides information to assist customers with integrating control environments. This document also addresses AWS-specific information around general cloud computing compliance questions.

    AWS Security Audit Guidelines

    Guidelines for systematically reviewing and monitoring your AWS resources for security best practices.

  • Compliance Programs
  • CISPEAWS

    CISPE

    ISO27017

    ISO 27017

    SOC

    SOC

    CSA

    CSA

    ISO27018

    ISO 27018

    ISO9001

    ISO 9001

    GDPR

    GDPR

    ISO27001

    ISO 27001

    pci

    PCI DSS Level 1

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Review requirements

We are continually adapting to evolving regulations. Check often for updates.

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