The cloud computing market worldwide is expected to increase to $ 191 billion by 2020. There are many advantages of cloud computing among them with lower costs, faster marketing time and increased employee productivity. However, data security in the cloud is a major concern retaining the cloud application for IT departments and promoting the application of CASB. There are several computing cloud-related risks that you should know.
Compliance violations and regulatory actions
Today, most companies operate under some kind of control over their regulated information, whether it be HIPAA for private health information, FERPA for confidential student records, or one of many governments and industry regulations. Under these tasks, companies must know where their data is, who can access it and how it is protected. BYOC often violates each of these principles, causing the organization to fall into non-compliance, which can have serious consequences.
Data breach is one of the main risks related to cloud computing. Data breach is defined as the main exposure to data such as user information, business secrets, etc. This is the most important threat because it contains sensitive content and also causes great failures for businesses as well as the whole industry. A report provided by sky-high information sharing, ie 21% of data stored on Cloud contains sensitive data.
Loss of control over end user actions
When companies are in the dark about workers using cloud services, those employees can do anything and no one can know until it’s too late. For example, a retired salesperson can download reports about all customer contacts, upload data to a personal cloud storage service and then access that information when he is hired by a competitor.
Hacked Interfaces and Insecure APIs
Because cloud computing is entirely dependent on the Internet, a secure interface is required. In addition, the API is used by external users, so it is imperative to protect your API. If you’re willing to communicate with most cloud services, the API is the easiest way to communicate. This represents a direct security concern for cloud-based services.
In the current cloud era, growing day by day, it can easily use a few services that are also available to the public domain. It can be easily compromised by hacking systems and forming one of the security concerns for cloud-based services. Sometimes, accessing data for third parties causes the application to destroy their data in many ways. It can be deleted, lost or stolen.
Diminished customer trust
Data breaches certainly lead to customer trust. In one of the biggest ever breaches of credit card data, cybercriminals have stolen more than 40 million customer credit and debit card numbers from Target. Violations make customers stay away from Target stores and lead to the company’s business being lost, which ultimately affects the company’s revenue.
Insufficient due diligence and shared vulnerabilities
Mainly there are some problems in technical form. Because corporate companies do not have clear goals about their cloud services. They do not have clear plans for their resources. As a result, it can cause a lack of professionalism leading to security issues. In addition, it is responsible for customer dissatisfaction, which is a major problem in cloud security risks. Services do not reach the level that users are expecting in practice.
Therefore, we mentioned most of the common cloud security risks. These are some big cloud security issues and challenges that should not be overlooked instead of as much as possible.