Cybersecurity and Cloud Computing: Risks and Benefits | Rewind (2023)

If you have data in the cloud (who doesn't these days?) and run an e-commerce business, you should take cybersecurity seriously. October is cybersecurity month, but it's a year-round endeavor to do whatever it takes to keep your data safe.

A number of cloud services are available to businesses to enhance their day-to-day operations, including Amazon Web Services (AWS), Google Cloud Platform (GCP), and other Infrastructure-as-a-Service (IaaS) providers. These services have enabled organizations to expand and grow their business. But while AWS and GCP are great at helping companies deploy Software-as-a-Service (SaaS) products, they may not provide adequate protection for data stored in the cloud.

There is a naïve level of faith in cloud computing that has permeated our daily lives. [The] illusion that the cloud is a magical place where your data is easily recoverable and available across all your devices, no matter what apps you use.

– James Ciesielski, CTO & Co-Founder, Rewind

The 2020 pandemic forced many brick-and-mortar businesses to move much of their business online – e.g. B. by allowing employees to work from home, sign up for new SaaS services, launch new e-commerce stores or expand their existing ones. While this sudden change helped protect employee safety, maintain business continuity, and reclaim some of the revenue lost to reduced foot traffic, the rapid shift to online businesses also resulted in several security and privacy issues.

This article discusses the importance of implementing cybersecurity measures, the limitations of cloud computing, and tips for applying cloud security protocols. So let's start with the basics.

What is cloud security?

So what is cloud security? And how secure is the cloud? Cloud security is a collection of technologies, services, controls, and practices designed to protect cloud data, applications, and infrastructure from cyber threats and attacks. Robust cloud cybersecurity is essential to prevent data loss and help the company comply with data protection regulations.

Cloud cybersecurity can be provided by the cloud service provider (CSP) or by the customer. In most cases, the CSP provides its customers with the latest cloud cybersecurity technology, ensuring they have the best possible protection against known and anticipated threats.

Why is cloud security important?

Cybersecurity is becoming a critical concern as more and more companies complete their digital transformation and migrate systems to the cloud. As the threat environment continues to evolve, it is important to mitigate the risk of cloud computing as much as possible and ensure data and systems are protected at rest, in use and in transit.

When cloud data is compromised, organizations risk losses at multiple levels. Loss of sales, loss of reputation and business continuity are an issue. The average cost of a data breach is in the range of$8.64 million, and it usually takes 280 daysfor an organization to detect, troubleshoot, and recover. Additionally, many organizations will not survive a significant breach, making an irrefutable argument for cloud cybersecurity.

Data is growing exponentially and cloud providers are facing greater risks of data breaches. As data grows, so does the attack surface. Data security is a fundamental human right and when migrating data to a cloud environment, a cloud security solution is more of a necessity than a desire.

Cloud computing security risks are increasing, and cloud providers are working to secure the cloud environment with various safeguards such as encryption to ensure cloud data is protected from both accidental deletion and malicious attacks.

Now let's dive deeper to answer the question: what is cloud computing and how does cloud computing work?

Was ist Cloud-Computing?

Cloud computing is a method of delivering computing services over the Internet, including servers, storage, networks, software, and analytics data. Businesses are turning to cloud computing to reduce costs, gain agility, and improve cloud security. Because cloud services, including cloud security, are easily scalable, this is a way to support continuity even during periods of rapid growth.

Cloud Computing Service

Cloud services can appear in three ways depending on the service a company offers to its customers. These three are SaaS, PaaS and IaaS. Let's see what each of these means.

Software as a Service (SaaS) is a cloud application service. Organizations often use this to deliver their applications to the end user while a third party manages the application through a private cloud.

Platform as a Service (PaaS) is a cloud platform service that allows developers to work on their applications via the cloud. This simplifies their development management process and allows them to focus solely on development while the organization or a third party manages the server, storage, and network.

Infrastructure as a Service (IaaS) provides organizations with a fully functioning infrastructure, of storage, network, monitoring and other services, all in a private cloud. This simplifies an organization's management practices and frees up resources that would otherwise have been used in the case of legacy infrastructure.

Risk of Cloud Computing

The benefits of using an IaaS provider are obvious. There's no need to spend money on buying and maintaining expensive servers and processing power, along with the overall feeling that your data is safe because it's “in the cloud”. However, business owners should check the fine print about how protected this data really is.

When hosting your data in the cloud, the IaaS provider is responsible for protecting the underlying infrastructure, while business owners are responsible for protecting their own data. The main risks you face include:

• Compliance with data protection
• data breaches
• Unauthorized Access
• malware infections
• Cyberangriffe

Quelle: Awsstatic

This model clearly shows how customers and cloud services communicate with each other. The IaaS provider supports you by providing you with secure infrastructure, bandwidth access, and disaster recovery, but it's up to you to be aware of the limitations of cloud computing and how to protect your information.

Learn more about how theShared responsibility modelaffects companies using SaaS apps.

Top Cloud Security Threats

There are a fewThreats related to the cloud, and some of these are usually not considered. Below we discuss the top five security threats your business faces in the cloud.

Incorrectly configured cloud services

One of the biggest problems companies face is cloud misconfigurations. While easily avoidable, the root cause of this threat is sheer human negligence. A misconfiguration of your cloud service can open the way for unauthorized access to your server. This can lead to bigger problems down the road.

data loss

When you use a platform that makes data transfer so easy, it's no surprise that you're opening the door to data loss. Several organizations have said that data loss and sprawl are their biggest problems with cloud storage. When you migrate large amounts of data to the cloud, there is always a chance of data loss. The best answer to this is to create updated backups for all your data stores.

API vulnerabilities

Cloud services rely heavily on APIs to communicate with applications. It might seem like a neat little tool, but these APIs are the most vulnerable to cyberattacks. Hackers can launch DoS attacks and inject code to break into the cloud server and access the company's personal data.

malware attacks

Since the cloud is easily accessible, it becomes accessible to people with bad intentions. To top it off, cloud environments are interconnected, meaning that if attacked, damage will spread like wildfire. Some of the most dangerous cases of cyberattacks can be hyperjacking, DoS attacks, and hypervisor infections.

Insufficient access management controls

If you put all your data in one place but don't want everyone to see it, problems can arise. Cloud storage is a cheaper way to store all your data and free up resources within your organization, but most businesses forget that not all data is for everyone. A hasty cloud migration can expose all your data for anyone to access.

Before migrating data, ensure that appropriate access controls are in place. Insufficient protections for identity policies not only increase the risk of external attacks, but also increase the likelihood of human error and employee negligence.

Cybercrime and Cloud Computing

In recent years, large companies likeAdobe, Sony, Target, Equifax und Marriottsuffered from cyber attacks. Accenture's annual report,Cybercrime Costs, has identified more than half a dozen techniques used by criminals to compromise or erase data:

Those: Accenture

Not only corporate giants risk having their data compromised. Small and medium-sized businesses still face a cybercrime threat, even if they think they can fly under the radar. According to the National Cyber ​​Security Alliance, over 70 percent of small businesses have been attacked, and many of them are not recovering.

Rewind2020 Privacy Survey Reportfound that 1 in 4 ecommerce stores lose the critical data and content that runs their store.

The increasing reliance on cloud computing has created the perfect environment for cybercriminals to prey on unprepared companies.

7 ways to protect the data that powers your business

1. Adjust the principle of least privilege

When a business expands its online presence, it's common for multiple people in the organization to have access to the online tools needed to run your business. The principle of least privilege means that only those people should have access to the tools they really need to do their jobs. For example, your finance team probably doesn't need access to your code repository, and your development team probably shouldn't have access to sensitive financial data.

Some tools offer "temporary permissions" features that give a non-core team member a limited amount of time to complete a task. This can ensure business doesn't falter while providing enhanced privacy protection.

2. Use a password manager

With multiple tools come multiple passwords. The choices for office workers today seem to be between usageweak passwordsthat are easy to remember (“password” or “1234567” are always in the top 10 when the latest data breach results are released) and strong passwords that are difficult to remember.

Instead of trying to come up with better passwords, try implementing a password manager like 1Password or LastPass. This makes it possible to use different strong passwords for all your online services while you only have to remember a single master password. These managers help encrypt your passwords and protect them from unauthorized eyes. However, your password manager is only as strong as the master password you choose for it — so test potential passwords on a site likeSicherheit.orgto see how easy it would be for a computer to hack them.

3. Use two-factor authentication

It has become common for online services to implement "multi-factor" authentication (MFA). In fact, if you don't have this setup, you should. MFA tools send a unique code via SMS text or use an authenticator app on your mobile device.

When given the option to choose between an SMS text or an authenticator app, go with the app. Many authenticator apps aren't tied to just one device, allowing you to access the MFA code when your phone isn't nearby. Second, it is possible for hackers to steal your cell phone number and access any MFA codes that are sent to you via SMS.

4. Implement encryption in the cloud

Encryption is essential to any cloud security environment. Encryption protects your data at rest, in use, and in transit to and from the cloud. Essentially, encryption translates your data into code that requires a "key" to unlock it - meaning only authorized users can access the data. The encryption key protects your data from unauthorized or malicious users and makes it unreadable. Data in transit is most at risk, and that includes the emails you send as well as the data you store in the cloud.

5. Control access for third-party apps

It's important to understand how much access third-party apps have to your data. Some apps request authorization to tamper with or even delete your data when not required. As a business, you must read the Terms and Conditions carefully to assess the risk you may be exposing your business to.

Reports from industry analysts such as Gartner and Forrester, as well as reviews from software rating sites such as GetApp, G2 Crowd, and Capterra, can often be helpful when assessing a vendor's reputation and trustworthiness.

Reviewing apps can be a tedious but necessary process. We've made it a little easier for you with our simple guide to the best appsfor your business.

6. Arm yourself with knowledge

Employees who work from home are typically more vulnerable to phishing attacks, malicious software, and other data security threats. It can be difficult for remote workers to stay focused when non-work-related distractions are at home, making it easier to click on a suspicious link. Additionally, work from home is typically done using standard home networking equipment, which is less robust and easier to breach than the commercial firewalls found in most offices.

The first step is to educate yourself and your team on how to avoid various phishing attacks. Here's what to look for:

• To verifysuspicious emails and SMS with the sender by sending a new email or picking up the phone and calling them.
• To ignoreand delete unwanted emails or texts from people outside the organization.
• Do not openor click on suspicious documents or links in an email or text. Always check with the sender in another channel before taking any action.
• Be aware;Always be vigilant when receiving unsolicited instructions via email. If you are unsure, it is best to leave it alone.

7. Back up cloud data

When was the last time youSecuredyour data? If your data is ever compromised, a backup makes recovery much easier. As simple as it sounds, there are several methods to protect data outside of the cloud. Let's take a look at them.

Data backup strategies

One way to protect your data outside of the cloud is to use the SaaS capabilities and download your data. It can be tedious, time consuming and messy as you will end up with many files. Remember that if these files are also stored in the cloud, you are still in a vulnerable situation.

The second approach is to build your own backup software in-house. This is resource intensive and outside of the core competencies of most companies. Even if you have the skills in-house, the opportunity cost can be prohibitive. Also, after creating a custom backup solution, you still need someone to back up regularly and make sure everything is working as it should.

The third option is to use a third-party solution for your data backup needs. Known asBaaS (Backup-as-a-Service), these companies offerautomated backup and recovery servicesthat enable customers to quickly recover from accidents and/or malicious attacks with just a few clicks. This can be a great solution for smaller teams or teams that want to focus their development energy on their core product (and not run backup scripts).

Remember, always do your research and make sure the provider has a solid onehelp centerand aHistory of good customer service. When it comes to lost data, you don't want to be stuck in an endless phone tree, waiting on hold and listing Muzak - you want your problem resolved quickly. Can your chosen BaaS app deliver a solution in a timely manner?

Protecting your business means protecting your data

With cybercrime threats on the rise, the question is not if data loss will occur, but when. Commit to constantly reviewing your cloud computing data and taking appropriate action. Avoid future business disruptions by taking some precautionary measures today. Back up your data yesterday.