Cloud computing has become very popular over the past 10 years. The downside to this surge in cloud computing is that cloud computing security’s popularity pales compared to the number of people who use cloud computing.
Over the last decade, a lot of people have spent time moving data from on-premise servers to the cloud or hybrid environments. These people often take the security of the migration process for granted.
Cyberthreats are becoming an increasing issue as attacks occur every 39 seconds or over 2,000 times a day, according to a University of Maryland report. According to Cybersecurity Ventures, it is expected that the damages from cyberattacks will reach over $6 trillion in 2021, for which global spending will amount to more than $133 billion, Gartner records. According to a Security Intelligence Report, the average cost of a single data breach is assessed to amount to nearly $4 million.
In the first six months of 2019, over 4 billion data were exposed to breaches. This figure represents an increase of 52%. Furthermore, as of January 2020, more than 7 billion data have been reported to have been exposed in cyberattacks. Based on the figures published in a report from Verizon for data breaches, in 2019 more than 70% of the cyberattacks were financially motivated, whereas a quarter of them was motivated by espionage. The same report claims that 52% of the cyberattacks were attributed to hacking, 28% involved malware, whereas about 33% were phishing.
We are going to give you a few assessments that Cybersecurity experts have suggested our current risks and how organizations should prepare themselves.
The current risks posed by cloud computing
Businesses tend to store their data in the cloud, and then they take advantage of the infrastructure and built-in security protocol. Many places also benefit from reduced overhead costs by getting rid of on-premise servers and switching to cloud storage.
The problem comes in when it comes to cloud security. By placing data there, the data can be hacked easier. The business is still responsible for securing everything on the cloud. With a human error during the configuration process, attackers can hack the data and cause security problems for your business.
Advice for securing cloud storage
Cybersecurity experts have said that it is very important that there is a cooperation between the organization and its cloud providers. They have said that a lack of communication about services, security protocols as well as expectations would increase the risk.
In other words, it is essential that you, as a company, stay in contact with your cloud provider. Let them know what is needed to be protected, and every now and again, it is important that you check on your security and make changes that are needed to ensure that your data stays secure and protected.
It is important that you find a cloud provider that basks in security. Cloud computing will continue to rise in importance in the business landscape. With how the world is going, saving money and keeping business doors open is important to everyone. Make sure that when you do cut costs to go onto a cloud-based business, you ensure that you choose a provider that makes Cybersecurity their number one priority for their clients.