Top 10 Cloud Security Risks of 2023

Industries of all sizes cloud for data analytics or software development. This is resulting in a wide usage of cloud computing. However, with wide usage comes some risk of cloud computing. In this blog, you will know the risks of cloud computing.

With newer advancements in technologies like IoT, blockchain, and cloud computing. Industries are adopting cloud computing to make their work easier but then the real question occurs Are you really secure? Cloud computing does have its risks but can be tackled. But it can escalate if you ignore or overlook these risks. So in this blog, we will see the security risks of cloud computing and how to tackle them. 

1. Data breach

When your confidential data is accessed and used by someone else without your consent that would be called a data breach. Now, this can happen due to weak credentials or complex systems giving the wrong permissions to the wrong people. Now we all know with each passing day data is becoming more and more important and this is basically theft.

This can happen when your system is affected by malware. Data systems are particularly vulnerable to this type of attack. Inadequate cloud configuration or no protection at runtime will make your data more vulnerable to these attacks. This can also happen due to internal threats For example  Marriott Hotels & Resorts data leak due to a compromised third-party app, affected almost 339 million guests and the company had to pay a fine amount of £18.4M.

Different types of data have different consequences after being breached but one thing is clear, once your data is breached it might be in the wrong hands. It could be used to ruin a company’s good name and drive down its stock price. Breaches are a serious risk to businesses. 

One of the best ways to prevent breaches is by having encryptions and multiple-factor authentication.

2. Compliance issues

Companies can face a bad time if there are issues with compliance with policies like  PCI DSS and HIPAA that protect sensitive data. These must be followed by all organizations. You might have to create an isolated part in your network with limited access to make sure you are compiling with these regulations. 

If compliance regulations are not followed, the business might have to face penalties and fines, which will not be good. 

Hence it is absolutely important that you add the cloud service only after checking its compliance with all applicable legal standards.

3. Data loss

This is different than a data breach. A data breach is when people use your data without your knowledge and or consent. Data loss is when your data is compromised. This can pose a huge risk to a business and most important note, it’s irreversible. 

              You can lose your data due to a variety of reasons . that can range from the          vulnerability of the databases, storage on the non-dependable cloud storage service provider, losing or deleting the data accidentally, or losing your credentials to access the data.

One great thing about cloud computing is sharing information anywhere and anytime you want. But that poses a great risk to safety and security. 

Hence it is crucial to enforce privacy policies and ensure that there is a backup of all data. 

4. Insecure APIs

Application programming interfaces or APIs also enable access, authentication, and encryption. As APIs make things more user-friendly, if they are insecure they can [pose a risk to your data.  Cloud services with unsecured APIs can compromise your data heavily. Hence it is crucial to do some penetration tests and to do regular audits of each layer 

5. Misconfiguration

These days it is common for businesses to work with multiple vendors. Each service has unique configurations and it can be a security vulnerability these security flaws in the cloud infrastructure can be a threat to the system. This is especially crucial when you are having important t data saved in the cloud services of various third-party vendors. Isconfiguartion attacks have a huge impact like the series of misconfiguration attacks on Amazon S3 storage due to misconfigurations between September 2017 to November 2017

In this timeframe, sensitive data of  Australian Broadcasting Corporation, United States Army Intelligence and Security Command, and Accenture were leaked.

Hence it is crucial to double-check the security of the cloud service that you are using 

6. Lack of cloud-native security tools

Treats can arise due to a lack of cloud-native security tools. These days cloud has moved from standard web application development to container-based deployment.  When the total environment is vulnerable, that can be called the attack surface. With each new task, there is a new vulnerability posed. Sometimes openly accessible workloads can end up after using many microservices. hence it is crucial to keep them well-managed and must be regularly monitored. 

7. Hijack accounts

Poor password hygiene is a very common reason why hackers can have access to your data. Now with more and more businesses are being dependent on cloud infrastructure and apps. So hijacking becomes a huge security risk that looms over businesses. Just like when between the 21st of August 2017 and the 5th of September 2017, an airline company in the UK suffered a massive attack on its data, with more than 380,000 of their users’ data being hacked by a Russian group. Researchers estimate that the hacker group might have made up to $12.2 million from the attack.

Basically, an attacker can get complete access to an employee’s personal data and online account when they have access to the credentials. Hence it is crucial to have a separate access management layout in your cloud infrastructure which will define the information’s accessibility to the users. 

8. A Dos or DDos attack

The goal of this attack is to render the programs useless or interfere with their workflow. This mostly affects businesses that rely on outdated systems when there is an increase in a load of data. This renders the system unavailable and unusable. But it can also affect businesses of all kinds. The biggest DDoS attack to date took place in September 2017. The attack targeted Google services and reached a size of 2.54 Tbps.

One of the clear signs that you are facing a DoS is when you are:

1. having trouble loading a specific website
2. facing a rapid loss of connectivity amongst devices connected to the same network

It is important to check the firewall and inspect the firewall traffic. This can help eliminate unwanted traffic and hence prevent attacks like Dos or DDos. Also using an intrusion-detecting system will help you have early warning signs when there is an unusual amount of traffic. 

9. Lack of organic security as a part of application development

Security should not be an afterthought when developing applications. At every stage of application building, security should be a very important consideration. Security must be built in every stage like the design stage, coding stage, development, publishing, production, etc. Basically, security must be ensured in each one of the stages. 

10. Lack of cloud security strategy and cloud computing skills.

All of these can be saved if you have the above. But a lack of cloud computing skills will be very harmful as traditional data security models are not enough for data saved in the cloud. If your IT team does not have the skills to effectively combat cloud security risks then cloud computing can open your organization to many vulnerabilities. 
Hence it is always great to have the security and safety of your data as the first thought when you are using the cloud in your enterprise. It is important for employees to have good passwords and digital hygiene and enterprises must have trained professionals in their arsenal to combat these risks. Hence Assystant is there to help. We have a collaborative system wherein we will try to understand your enterprise and recommend the technologies and the gaps that you might need to fix. We recommend solutions that will provide you with value. Need any help? Contact us.