The panel also included Jericho Forum board member and Eli Lilly CISO Adrian Seccombe, Echelon One CEO Bob West and Scotland Yard's anti-corruption Command Detective Inspector Kevin Hyland.
Cloud computing will enable businesses to function more efficiently and collaborate with other organizations, but they must recognize the security ramifications, such as safeguarding data and managing identities, the panel said.
The UK-based IT security think tank Jericho Forum -- which has been preaching the notion of security in an open-network environment since the group was founded more than four years ago -- next year plans to focus on the necessary steps to secure the cloud. But the forum is relying on IT security professionals for help, Seccombe said.
“The very idea of bolting on security when you have already moved to the cloud is dumb,” he said. “You can't bolt security into the cloud; you need to build it in.”
Looking at the issue from a law enforcement perspective, information is a valuable commodity and must be treated as real money, Hyland said.
“Criminals are organized networks," Hyland said. “One day they might be dealing with drugs and now they are dealing with this.”