Companies that don't stress the importance of secure credentials are at a greater risk of being compromised.
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Remembering these passwords can be a challenge, so use a trusted password manager. You'd be surprised how many security threats can be prevented by just choosing a secure, unique password per account. Even worse, if the compromised account is connected to other accounts, you can quickly lose control of multiple accounts. An intruder with control over a user account can eavesdrop on transactions, manipulate data, provide false and business-damaging responses to customers, and redirect customers to a competitor's site or inappropriate sites.
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Phishing, exploitation of software vulnerabilities such as buffer overflow attacks, and loss of passwords and credentials can all lead to the loss of control over a user account. Hijacked Accounts - Compromised CredentialsĪccount hijacking sounds too elementary to be a concern in the cloud, but Cloud Security Alliance says it is a problem. When the public does not trust how you handle data, they take their business elsewhere resulting in lower revenue.ģ. Items one and two usually lead to a loss of customer confidence. Understanding these rules will protect you in the event of a data breach and keep you away from trouble. You also need to be aware of compliance policies that govern what you can and can't do with collected data. That's why it's important to distribute your applications across several zones and backup your data using off-site storage when possible. And a data loss could occur intentionally in the event of a malicious attack.Īlthough the chances of losing all your data in the cloud are minimal, there have been some reports of hackers gaining access to cloud data centers and wiping all the data clean. Small amounts of data were lost for some Amazon Web Service customers as its EC2 cloud suffered " a re-mirroring storm" due to human operator error on Easter weekend in 2011. Data loss happens when the owner of encrypted data loses the key that unlocks it. Data loss may occur when a disk drive dies without its owner having created a backup. Following legally-mandated breach disclosures, regulators can levy fines against a company, and it’s not uncommon for consumers whose data was compromised to file lawsuits.Ī data breach is the result of a malicious and probably intrusive action. Certain regulations such as HIPAA and HITECH in the healthcare industry and the EU Data Protection Directive require these disclosures.
If sensitive or regulated data is put in the cloud and a breach occurs, the company may be required to disclose the breach and send notifications to potential victims. The most efficient method is to use encryption and multi-factor authentication. However, it's up to your organization to implement a plan for protecting your data in the cloud.
Reputable cloud services usually have several security protocols in place to protect confidential information. It's called the "side channel timing exposure," resulting in the organization's sensitive internal data falls into the hands of their competitors. It's possible for a user on one virtual machine to listen for activity that signals the arrival of an encryption key on another VM on the same host. For example, companies could face lawsuits and hefty fines as well as damage to the brand image that could last for years. A data breach can expose sensitive customer information, intellectual property, and trade secrets, all of which can lead to serious consequences.
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Along with the legal requirements, comes full disclosure and potential lawsuits, similar to the recent incident with Equifax.Īlthough cloud storage providers implement rigorous security measures, the same threats that impact traditional storage networks also threaten the cloud world. It's every CIO's worst nightmare: standing in front of an endless row of cameras and provide an embarrassing assessment of the situation. Data BreachesĬloud data storage and cloud computing, in general, have forced cyber-criminals to invent new ways to circumvent security technology so they can administer their new methods of attack. Below we have identified some serious security threats in cloud computing. Storing data in the cloud might seem like a safe bet, and for most users it is. There are many risks involved with data security.
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