Cloud computing has revolutionized business operations by enabling companies of all sizes to meet the demands of a fast-paced digital world. The global cloud services market is expected to reach $947.3 billion by 2026, with a compound annual growth rate (CAGR) of 16.3%. However, with the growing adoption of cloud technology comes increased security risks. Organizations must remain vigilant and proactive in addressing potential vulnerabilities to fully benefit from the cloud while safeguarding their data.
Discover five key cloud vulnerabilities to watch for, along with strategies to help you protect your data.
Account Hijacking
Account hijacking, also known as session riding, is a cloud threat that steals account credentials from users. There are several ways attackers can hijack accounts, including:
Phishing
Directing users to fake websites to steal login information or session IDs.
Keyloggers
Installing malicious software to record keystrokes and capture sensitive credentials.
Buffer overflow attacks
Overwriting memory data to gain unauthorized access.
Cross-site scripting (XSS) attacks
Injecting malicious scripts via a web browser to exploit vulnerable accounts.
Brute force attacks
Using software to guess passwords and break into accounts.
While account hijacking is not a new threat, it remains a major concern. A notable example occurred in 2014, when a vulnerability in PayPal left approximately 150 million accounts exposed. This incident served as a reminder for businesses of all sizes to strengthen their cybersecurity measures.
Protect against account hijacking
First and foremost, use strong, unique passwords and update them regularly to protect against brute force attacks. Additionally, enable multifactor authentication (MFA) whenever possible. MFA adds an extra layer of security, making it significantly more challenging for attackers to gain unauthorized access to your account.
Many successful account hijacking attempts happen because of phishing. Exercising caution when clicking web and email links, and when receiving requests to reset passwords will go a long way in protecting you from attacks. And if you have employees using cloud services, be sure to educate them about cloud computing vulnerabilities so they know how to identify account hijacking attempts.
Consulting with a threat detection expert is an effective strategy for preventing account hijackings. They can identify potential vulnerabilities in your network and recommend measures to enhance your data protection against such attacks.
Data Breaches
In the first half of 2024, data breaches have impacted just shy of 1.1 billion people. Data breaches are a problem that can result in the loss of millions of dollars each time. According to Verizon’s 2023 Data Breach Investigations Report, third-party threat actors account for 94% of SMB breaches. One of the main reasons why small businesses bear the brunt of data breaches is because they don’t have the same level of protection as global corporations. They are easy targets, and they tend to get hit the hardest when their data is compromised.
The consequences of a data breach can include:
- Negative impact to brand reputation and loss of trust from partners, clients, and customers
- The loss of important intellectual property
- Regulatory fines and other penalties
- Legal actions
On top of that, you should factor in other expenses related to cybersecurity, such as forensics and incident response.
For instance, the 2019 Capital One data breach resulted in a $300 million loss, underscoring the financial impact such incidents can have.
Protecting against data breaches
There isn’t a one-size-fits-all solution to preventing data breaches, but some good practices include:
- Perform routine security audits to track data access and prevent unauthorized users from entering your system.
- Use encrypted servers and ensure cloud security protocols are in place.
- Develop a comprehensive incident response plan that includes cloud-specific security measures.
Insecure APIs
Application programming interfaces (APIs) are widely used to facilitate communication between applications and streamline business processes. However, their convenience can also pose a significant risk. Insecure APIs are a prime target for attackers seeking to launch Distributed Denial of Service (DDoS) attacks or gain unauthorized access to data.
As organizations increase their dependence on APIs, these attacks have also escalated. In 2023, nearly half (45.8%) of all ATO attacks targeted API endpoints.
Protecting against API attacks
A few steps you can take to safeguard your cloud environment from API attacks:
- Regularly conduct penetration tests to identify potential vulnerabilities in your API infrastructure.
- Encrypt all transmitted data using SSL/TLS protocols.
- Implement robust authentication controls, such as MFA.
- Share API keys only with trusted parties and revoke them when they are no longer needed.
These are all precautionary measures to ensure API security. Developers are also responsible for creating APIs with stronger authentication.
Malicious Insiders
Insider threats — posed by current or former employees, contractors, or business partners—are a significant risk to cloud security. These individuals often have legitimate access to sensitive data, making it easier for them to steal information, destroy records, or sabotage IT systems.
- Employees
- Contractors
- Business partners
Enemies with unauthorized access to your systems could steal information, destroy data, and sabotage your IT systems. According to Ponemon:
- The total average cost of an insider risk rose from $15.4 million in 2022 to $16.2 million in 2023
- 55% of money spent on insider incident response went toward problems caused by negligence or mistakes
- Just 10% of insider-risk management budgets are spent on pre-incident action
Protecting against malicious insiders
Unfortunately, organizations are more susceptible to insider threats than external attacks for one simple reason — the threat doesn’t (usually) exploit cloud vulnerabilities to access sensitive data.
Preventing insider threats requires a proactive approach such as restricting access to critical data by ensuring individuals only have access to the information necessary for their roles. Conduct regular security audits to identify and address potential risks. Revoke access promptly when it is no longer needed.
The best practice is to run audits at least twice a year. Some organizations run quarterly audits, while others perform one every month.
For insider threats that are not malicious, consider holding training sessions covering best practices for protecting data and systems. Teach employees how to avoid phishing attempts, the importance of regularly changing passwords, and other important security protocols.
System Vulnerabilities
System vulnerabilities are a common issue in cloud security. They can arise from the integration of insecure third-party applications or poorly configured security tools. Common vulnerabilities include:
- Lack of input validation on user input
- Insufficient logging and monitoring
- Improper error handling
- Not closing your database connections
Protecting against system vulnerabilities
There are several steps you can take to address system vulnerabilities, including encrypting your data and implementing a comprehensive intrusion detection system that works on cloud, on-premises, and hybrid environments.
Consider deploying a web application firewall (WAF) to protect your web applications from various cloud computing threats and vulnerabilities, such as DDoS attacks, SQL injections, and Man-in-the-middle attacks.
Strengthening Your Cloud Security Strategy
A robust cybersecurity strategy can save you from the costs and complications associated with data breaches. Fortra’s Alert Logic is here to help you protect your data and tackle cloud security vulnerabilities before they escalate. Our managed detection and response (MDR) and extended detection and response (XDR) solutions provide superior protection, tailored to meet your unique business needs.
Cloud security is essential to protecting your business from costly data breaches and cyberattacks. Fortra’s Alert Logic offers advanced managed detection and response (MDR) and extended detection and response (XDR) solutions, providing a tailored approach to securing your data and addressing cloud vulnerabilities. Take proactive steps to safeguard your organization and maximize the benefits of cloud computing.
