Today, much of our data, including photos, videos, and all sorts of documents, is routinely stored in the cloud - a wide spread practice in modern times. The cloud's appeal lies in its flexibility, productivity enhancements, and cost-effectiveness for file storage. However, inadequate management of cloud resources and data exposes businesses to a range of sophisticated, and sometimes less sophisticated, cyber threats.
According to a report from IBM last year, 82% of security breaches involved data stored in the cloud - whether it be public, private, or in multi-cloud environments. Among these breaches, 27% were attributed to data stored in the public cloud, and 16% to data stored in the private cloud. The risk of data loss is not only significant but also accompanied by substantial costs. IBM reports that breaches resulted in average costs of USD 4.75 million per company in 2023.
All Companies Are Under Threat
In recent months, there has been a surge in high-profile security breaches and vulnerabilities within Microsoft software. Security vulnerabilities have been found in the Windows operating system as well as in various applications and services, making Microsoft products attractive targets for malicious hackers and cybercriminals.
Among these unidentified threats are customized phishing attacks, which often involve manipulated files and documents. Microsoft reports that these documents may contain embedded links, leading unsuspecting victims to malicious phishing pages. Once inside cloud environments, hackers take various actions, such as setting up multi-factor authentication, maintaining access, and stealing data. Additionally, hackers can engage in email and wire transfer fraud by sending payment requests to HR and finance departments. This attack primarily targets middle and senior-level executives within the company.
Safe in the Cloud
As demonstrated by Microsoft's example, some cloud systems may appear secure at first glance. It is crucial for both individuals and organizations to implement cloud security tips and best practices to safeguard their data from attacks and breaches. Fortunately, by adhering to a few simple principles, the risk can be significantly mitigated.
1. Optimize Your Passwords and Authentication
Under no circumstances should you use one or a few universal passwords! Enhance your security by employing strong, unique passwords for each account and leveraging the two-factor authentication offered by most cloud providers! In the event that intruders penetrate your cloud, they will have unrestricted access to all your data unless it is encrypted.
2. Protection through Prevention: Focus on Audits and Risk Assessment
Accessing the cloud typically involves using computers, laptops, tablets, or smartphones. However, if a device becomes infected with malware, it can compromise cloud services as well. To mitigate this risk, ensure your devices are secure through regular updates, data backups, and the use of antivirus programs. Exercise caution when interacting with links, email attachments, and downloaded files from the internet. Implement security monitoring and logging to detect and respond to threats effectively.
3. Choosing the Right Cloud Provider: Balancing Privacy and Functionality
When selecting a cloud provider it's essential to strike a balance between security and user-friendliness. Larger providers like Dropbox or Google offer extensive storage space and seamless integration with other applications. However, data is often stored off-site, raising data protection concerns. Local providers may seem appealing due to physical proximity but may be more complex in terms of functionality and data protection.
4. Regular Backups as a Lifeline
Regularly back up your data and test the recovery process. There are various methods for backing up data; seek guidance from a trusted IT security expert for advice.
5. Training and Preparation: Empowering Employees as Key Security Assets
Limit access rights to sensitive data to employees who require it for their roles. Provide regular training to all employees, as a significant proportion of cyberattacks originate from human error. Additionally, establish a response plan for cyberattacks to ensure operational continuity during emergencies and prevent panic.
Sources:
https://www.ibm.com/reports/data-breach
