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Showing content from http://docs.aws.amazon.com/kms/latest/developerguide/import-keys-protect.html below:

Protecting imported key material - AWS Key Management Service

Protecting imported key material

The key material that you import is protected in transit and at rest. Before importing the key material, you encrypt (or "wrap") the key material with the public key of an RSA key pair generated in AWS KMS hardware security modules (HSMs) validated under the FIPS 140-3 Cryptographic Module Validation Program. You can encrypt the key material directly with the wrapping public key, or encrypt the key material with an AES symmetric key, and then encrypt the AES symmetric key with the RSA public key.

Upon receipt, AWS KMS decrypts the key material with the corresponding private key in a AWS KMS HSM and re-encrypts it under an AES symmetric key that exists only in the volatile memory of the HSM. Your key material never leaves the HSM in plain text. It is decrypted only while it is in use and only within AWS KMS HSMs.

Use of your KMS key with imported key material is determined solely by the access control policies that you set on the KMS key. In addition, you can use aliases and tags to identify and control access to the KMS key. You can enable and disable the key, view, and monitor it using services like AWS CloudTrail.

However, you maintain the only failsafe copy of your key material. In return for this extra measure of control, you are responsible for durability and overall availability of the imported key material. AWS KMS is designed to keep imported key material highly available. But AWS KMS does not maintain the durability of imported key material at the same level as key material that AWS KMS generates.

This difference in durability is meaningful in the following cases:

You must retain a copy of the imported key material outside of AWS in a system that you control. We recommend that you store an exportable copy of the imported key material in a key management system, such as an HSM. As a best practice, you should store a reference to the KMS key ARN and the key material ID generated by AWS KMS alongside the exportable copy of the key material. If your imported key material is deleted or expires, its associated KMS key becomes unusable until you reimport the same key material. If your imported key material is permanently lost, any ciphertext encrypted under the KMS key is unrecoverable.

Important

Single-Region, symmetric encryption keys can have multiple key materials associated with them. The entire KMS key becomes unusable as soon as you delete any one of those key materials or if any one of those key materials expires (unless the deleted or expiring key material is PENDING_ROTATION). You must reimport any expired or deleted key materials associated with such a key before the key becomes usable for cryptographic operations.


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