Companies turn to third-party cloud and managed security services to bolster cyber security and shift from legacy to modern data platforms. Migrating to the cloud allows for better access and scalability, along with several other benefits. However, the sudden transition has brought new security threats.
1. Poor Access Management
Access control is a means of determining what resources an authorized user has access to. Large corporations have employees use a wide range of devices and entry points to get into the network. Most of these organizations fail to implement adequate access controls for employees using internal and cloud-based systems. Without the use of VPNs, multi-factor authentication, and strong passwords, cybercriminals can steal a user’s credentials and wreak havoc on your business.
2. Data Breaches
A data breach is a security incident where an attacker gains unauthorized access to confidential or sensitive information, such as medical records, financial information, or personally identifiable information (PII). They are one of the most common and costly types of cyber security threats. According to IBM’s Cost of a Data Breach Report in 2021, the average total cost to an enterprise for a data breach is about $3.86 million. Data breaches in the cloud also expose organizations to lawsuits, damaged reputations, fines, and penalties.
3. Insecure APIs
Application programming interfaces (APIs) allow components of a system to interact with each other. APIs are responsible for the provision, monitoring, and management of cloud services. They protect against both accidental and malicious attempts to access sensitive data. Cloud service providers (CSPs) use a specific framework to provide APIs to programmers, leaving their systems more vulnerable to attackers. As modern APIs are accessible via web page applications running on browsers and mobile apps, they’re open for exploitation in the same way as web applications.
4. Denial-of-Service (DoS) Attacks
As the world continues to shift toward a remote work environment, more and more organizations are migrating their data to the cloud for its flexibility, scalability, and cost-effectiveness. However, this leaves most applications and critical infrastructure exposed to denial-of-service attacks. During a DoS, a hacker floods a system with more web traffic than it can handle at its peak. Internal users and customers are unable to access the system, and operations may stop entirely.
5. Malicious Insiders
Insider threats are people – employees, former employees, contractors, business partners, or vendors – who use their authorized access to cause harm to an organization’s network, systems, or data. Malicious insiders knowingly and intentionally steal data for financial incentives or competitive edge. Insider threats are usually seen as more dangerous than outsider threats as they can take several months or years to identify. Organizations have little to no control over underlying cloud infrastructure, and traditional security solutions may not be effective as long as CSPs maintain power.
6. Misconfigured Cloud Storage
Cloud security and compliance are a shared responsibility between cloud security providers (CSP) and their customers. It is the responsibility of organizations to ensure cloud security, including how they configure and use CSP resources. Cloud misconfiguration remains the largest security threat for organizations in the cloud. In 2018, the IBM X-Force Report noted a 424% increase in data breaches due to human-error cloud misconfigurations. These misconfigurations typically occur in three ways:
- The enterprise allows cloud security settings to default, leaving room for bad actors to move around.
- The enterprise inappropriately assigns access levels to users, resulting in the accidental exposure of sensitive information.
- The enterprise fails to create responsive data barriers, unintentionally divulging confidential information.
Stay Aware of Cloud Security Threats with Mindcore
Mindcore offers a full suite of cloud-based services, including effective cloud security, for New Jersey and Florida businesses. Our team of IT experts is dedicated to helping you find the right solution based on your current infrastructure and specific needs within the cloud. Contact us for more information or to schedule a consultation today.
