Businesses are Losing More Due to Data Breach
Organizations are using public cloud service providers (CSPs) without actually understanding the risks of several commercial, financial, technological, legal, and compliance issues. While the cloud offers unique opportunities to modernize the services and transform operations, and also comes with undeniable inherent risk.
One of the significant threats in cloud security is a data breach that continues to grow along with the financial loss after being breached. According to the report “Cost of Data Breach Report 2021”, by IBM, the costliest country in a data breach was the U.S., with an average cost of $ 9.05 million, and healthcare was the most expensive industry with an average cost of $ 9.23 million.
Hence, enterprises need a combination of highly secured cloud infrastructure, automated governance, remediation, and elastic solutions with 360-degree responsiveness. Enterprises must think of cloud vulnerabilities as virtual holes that could lead to serious challenges in the future.
Cloud Computing Vulnerabilities Businesses Should Prepare For
Although cloud promises more productivity to business processes, things can be perilous if enterprises overlook safety, resilience, and controls. Hence, the following cloud computing vulnerabilities must be considered by the businesses:
Cloud Misconfiguration: The errors, glitches, or gaps in cloud environments that expose you to risks are called ‘cloud misconfiguration’.
The “AWS security group misconfiguration” is one such example of cloud misconfiguration where an attacker can exploit flaws in AWS group configuration to access cloud server resources.
Cloud Data Breach: Cloud data breaches can have serious consequences, response costs, reputational damage, and even market value erosion. In this case, leadership teams must answer key questions:
- What are the ways to overcome the growing threats that come with digitization?
- Are we prepared to understand how technology investments would be affecting cybersecurity implications in the future?
Data Sharing Technologies: Stores of sensitive data lying fallow in servers around the globe are now starting to generate values across enterprises, and we may expect more organizations to explore opportunities to create seamless and secure data sharing capabilities. New security issues like loss of control over sensitive data have been emerging with cloud services like Google Drive, Dropbox, etc. This fear stems from the fact that the cloud is a multi-user data-sharing environment.
Organizations need to measure the security gaps and implement their compliances rather than depending on third parties.
To know more about cloud vulnerabilities and its details, read our blog.
Implementing “Policy as Code” Would Secure the Cloud Technologies
Cloud security is the function of infrastructural design, architecture, and the combined efforts of employees, and not just monitoring and intrusion detection. So leaders must focus their attention on building, programming, and developing security while building applications from scratch.
Security infrastructure decisions must be taken care of by the security team each time the security-critical configurations are changed. Another way to do this is adopting “Policy as Code,” which will express security and compliance rules in a programming language which could be used by an application to ensure encrypted configuration.
Techment Technology provides a fully secured, highly elastic and instantly scalable data and cloud management platform that provides sustainable competitive advantage to businesses. for details, get a free consultation.