'Storm clouds' ahead for the MLRO?

Cloud computing means sunny smiles from IT procurement and management but benefits are usually attended by costs. Michael Hyland of MHA tests the latest technological weather for AML.

Michael J Hyland (michael.hyland@mha-consulting.com) is chairman of MHA Consulting (www.mha-consulting.com)

For some time now many IT departments have been extolling the virtue of a “virtual computer resource” or, in the jargon of the IT community, “CLOUD computing”. Such enthusiasm has been endorsed by purchasing and procurement departments and profit centre managers who see the possibility of significantly reduced IT costs.