The rise of cloud computing has become exponential, which is no surprise as it has many benefits—such as flexibility, scalability, cost savings, speed, and more. According to the Cloud Security Alliance’s (CSA) survey, “98% of financial service organizations are using some form of cloud computing,” almost every industry is adopting cloud computing into their organization. Despite cloud computing providing opportunities and benefits for organizations it also has security concerns.
Below outlines a couple of cloud computing security concerns:
Lack of Visibility in Cloud Security
Organizations may not have visibility on how employees and users are using cloud services due to fragmented data sources, cloud consumption, and lack of knowledge/expertise.
Challenges of Cloud Compliance
Compliance has been a challenge for cloud computing due to the size and complexity of its architecture. It requires ongoing monitoring and adaptation, making it challenging for organizations to comply with cloud regulations and policies.
The cloud has become a newer target for hackers to exploit and addressing these security concerns is critical as the widespread adoption of cloud computing increases. Maintaining secure cloud environment becomes increasingly complex as organizations move more of their data into the cloud. With the size and complexity of cloud, many may wonder what businesses are doing to prioritize cloud security and if it’s enough to avoid becoming vulnerable to data breaches and cyberattacks?
The State of Cloud Security and Breaches
Cloud security threats and breaches continue to increase as hackers become more persistent, for example, in 2021, it was reported that, 45% of all data breaches were cloud-based. Not only do breaches expose vulnerabilities in an organizations network, it also causes financial loss for businesses—according to IBM, “The cost of a data breach in 2023 reached an all-time high of $4.35 million." Which is why it's critical for organizations and cloud providers to come together to create robust security measures in cloud.
Let’s review some of the most common cloud security threats:
Common Cloud Security Threats
Phishing Attacks: This is a common attack tactic for hackers, who use cloud computing services to trick users into clicking on malicious links. Organizations who share the same passwords are more vulnerable to phishing attacks.
Misconfiguration: It can be difficult to identify the gaps, errors, and vulnerabilities that occur in the cloud due to the complexity of the multi-cloud environment.
Account Hijacking: This is a common attack vectors in cloud and can be difficult to prevent or detect due to lack of visibility and (some) organizations sharing the same credentials across their enterprise.
Are We Doing Enough to Secure the Cloud?
Due to the complex size and architecture of cloud security, implementing strong security measures is critical. Encryption, identity and access management (IAM), monitoring, and authentication are a few security measures that organizations use to protect their data in their cloud software. But are these security measures sufficient? In an interview with Rachel Bierner, Former Head of Cloud Security at Wells Fargo, she stated “Companies need to understand their cloud architecture, use cases, and threat surface to determine the controls that are needed to protect their information assets in the cloud.” Bierner went on to say that organizations should continuously test their controls to ensure they are working effectively, especially as the technology and threat environment changes.
Cloud adoption has increased with a reported 94% of organizations now using cloud services, a 14% increase since 2020. Cloud differs from other software due to its complexity and dynamic environment—causing potential shortcomings in business practices. Bierner explains, “Organizations may generally apply their third-party risk management practices to their cloud services; however, they need to account for the secure configuration and access models with their cloud services.” Cybersecurity professionals need to consider cloud’s complexities and implement best practices to safeguard data.
Another potential shortcoming is that some organizations may rely completely on the cloud service providers and as Bierner highlighted, “An organization is always accountable for the protection of their data, wherever it is.” It is up to the organization to understand their use cases and evaluate the threat models that apply. As organizations are transitioning their systems and applications to the cloud, they need to shift their mindset into how they look at cloud software and implement strong security measures as well as the right controls and access to mitigate potential risks and vulnerabilities.
Actionable Steps for Better Cloud Security
Although moving to the cloud can be challenging, taking the right and effective steps can help organizations enhance their cloud security posture. Below highlights some steps business can take.
Identity and Access Control: The most fundamental step, knowing where your data is going, and user engagement is critical. Bierner explains that it is critical, "To know where your connections are to your cloud services, whether they are human or non-human interactions.” Adding security measures so that your data is protected at every potential access point, in use, and at rest is vital.
Regularly Monitoring: Cloud is complex, so regularly monitoring cloud activity for suspicious behavior is crucial to improve visibility within the cloud environment.
Multi-Factor Authentication (MFA): Adding MFA is a basic but critical layer of security. Organizations should have unique credentials for every application because sharing one credential throughout the enterprise leaves users vulnerable to attacks.
Conduct Penetration Testing: Organizations should regularly test their security measures and technology environment, including the cloud, to confirm their controls are working and effective.
Incident Response Plan: Businesses should have a set of procedures and practices in place to help them detect, analyze, monitor, respond, and recover from a cybersecurity incident. A comprehensive incident response plan is important as cloud attacks increase.
Collaboration: Organizations should partner with cloud security providers for ongoing support. They should learn about cloud software and not solely rely on the provider to protect their data. Businesses who are using cloud in any way are strongly encouraged to participate in cloud training and collaborate with others.
Despite the complexity and concerns, cloud provides many benefits, and the widespread adoption of cloud solutions will continue to increase. Practicing good security hygiene and using the actionable steps above will help transform an organization’s focus from reacting to security incidents to proactively strengthening its security posture.
The Need to Prioritize Cloud Security
Despite concerns, cloud software remains bright and is here to stay. Organizations need to prioritize cloud security and treat it as their own software and not that of a third-party. An understanding of how the environment works can help organizations set up the right security measures to prevent or even counter attacks. If organizations neglect their cloud software and rely on the cloud providers, they are leaving themselves open to hackers and malicious actors.
It’s important for cyber professionals to integrate some of the steps listed above into their organization to ensure a robust cloud security posture within their business. To learn more about cloud security services and solutions, we invite you to visit our marketplace, where we have an array of cybersecurity service providers and vendors who can assist you with your cloud needs.