As many banks have moved off-premises with their email and Office software products to the Microsoft cloud, it may be prudent to consider some of the missteps at Microsoft when planning your backup and SIEM strategies.
The article below highlights the fact that Microsoft experienced an issue that led to the partial loss of more than two weeks of security log data, just last month. You can read it here.
The Firewall Times lays out a comprehensive list of some of Microsoft’s security issues here.
CCI recommends that banks consider backing up their Microsoft 365 and SharePoint data and their security logs with a SIEM product to help prevent data loss. Banks should consider whether it would be prudent or not to diversify their backup partners outside Microsoft as an extra data loss prevention strategy. There are several providers to choose from.