In this fierce era of competition, cloud computing is no longer just an option for businesses. It has occupied the business world lately. Whether it is a multinational company or a small, enterprising business, they spend a lot of money on cloud computing.
More than 92% of businesses operate on cloud computing. China will never disappoint you with the statistics, as it’s global network owns more than 50% of the market share.
As COVID-19 changed the whole paradigm of the world, numerous innovations popped into the business. The business owner started shifting their business online, and the work-from-home concept gained immense popularity. But there were questions like: “How to save sensitive data from hackers or competitors?" and "How will effective communication with the clients be handled via screen?”
These insecurities were a nightmare for business owners. So, technology evolved and reinvented the whole corporate world. Cloud computing plays a significant role in the scalability of businesses. Everyone can connect and communicate via the cloud without jam-packing the device with data.
Data Theft and Data Loss
In the past 18 months, nearly 80% of the companies reported data theft at least once. Data theft or loss is not a joke, as it can cost millions of dollars to a company, resulting in the breakdown of a whole empire.
What Type of Data Is at More Risk?
- Credentials: Password/email
- Financial info/bank details
- Customer data/insights
- Codes/algorithm operating business
- Employee data
- Private documents
How to Handle Cloud Hosting Safety Issues
With the advancement of technology and the popularity of the cloud, the number of hungry hackers is increasing to steal data for their own benefit. You must take the necessary steps to protect your business.
1) Use an Easy & Strong Password
If you have a weak password that is easy to crack, an example is a woman wearing a diamond ring at night in the streets, inviting thefts for robbery.
Risk is involved everywhere. Hackers want to sell your information online, and competitors envy your growth. You must set a strong password of at least 12 words containing low and uppercase letters.
- Good password (Pf.1#v&Am%5d*)
- Wrong password (123Cloud)
2) Multi-Factor Authentication
This authentication is beyond your email or password. It ensures the authenticity of two devices to ensure a reliable person is trying to access them.
Monitor Your Accounts
Sometimes, data breaching takes time, and unusual activity keeps happening in silent mode. You must visit the record, bank details, and data frequently.
A misconfiguration is like giving the keys to your house to the wrong person. Configuration requires much attention, as 95% of cloud security is stolen due to misconfiguration or human error.
When you apply the automatic configuration tools, there are fewer chances of misconfiguration. You can enhance security with these tools.
Keep Your System Updated
Regularly review the new policies that have been introduced and update your security system to avoid lag.
The top three factors contributing to misconfiguration are:
- Scattered data: Cloud computing offers multiple locations and servers. If your data is managed correctly, monitoring it will be a smooth task.
- Numerous users at one time: If multiple people have access to the data and they open the cloud on different gadgets simultaneously, your data checkpoint will lose track. It's just like that one car having multiple keys and drivers.
- Keep an eye on new features: When the policies and features get updated, data can move around or be displaced. Never detach yourself from the trends.
4) Visibility and Control Handling
You’re pushing your business into a dark hole if you have limited visibility and control. As we discussed, predators who want to crush your business are everywhere. You can’t close your eyes and rely on the system for security. You must properly check and balance what is happening in the data rooms.
How to Mitigate This Risk?
- Introduce Monitoring tools: Monitoring tools are the game changer regarding security. You can analyze who is accessing the data and who is changing it.
- Logging system: Implementing a logging system helps you record who is visiting the data, how often he visits, and what he is doing. It is like a digital record to see the activities inside your data.
4) Prevent Account Hacking
Unauthorized access to the credentials of any business is called account hacking. It has multiple factors: Weak passwords and password reuse are the primary reasons for account hacking.
How to Avoid Account Hacking?
- Strong password: The significance of a solid password in security never gets old. The stronger and more consciously you apply it, the lower your chances of facing these misfortunes.
- MFA: MFA is like the arrow that never misses its target. If you use MFA wisely, there are fewer chances of account hacking.
- Phishing trick: Phishing is one of the most popular and successful baits for hackers. They spam your email with lucrative lead magnets in exchange for your credentials. If someone puts their email /password on the link, hackers can get their hands on the desirable data.
Train your employees and educate them to avoid this bait.
5) Monitor the Access for Third-Party Apps
Third-party applications are the biggest threat to your data. A third party is an external source that can easily access your data if there are loopholes in your system. The report says that in 2021, health organizations reported 33% of data breaches due to third-party apps.
Undoubtedly, third-party app interaction enhances the overall experience of cloud computing with different essential functions, but this is one of the most challenging gates to supervise to avoid data theft.
How to Mitigate the Risk?
- Strong KPIs: Sometimes, KPIs are easily exposed to potential sources of threat if they are not secure enough. Strong KPIs never let third-party apps manipulate your data.
- Sufficient data encryption: If you have a manual encryption key for data that is not even complex, it can be the perfect chance for a third-party app to attack your data. The communication between the app and the cloud is a sensitive process. It can only be secured with solid encryption. AES and RSA play well in forming strong encryption algorithms.
- Strong authentication process: A robust authentication process is the gateway to data security. Don’t compromise on a strong password; create multiple ways for authentication. Regularly visit the data rooms, privacy policies, and access to data.
If technology brings one solution, it also comes with five problems. It is a hard pill to swallow. You can’t sleep on cloud computing services; there are more precautionary measures that you need to take.
Numerous organizations confront heavy data loss annually due to insufficient security systems. No system, whether cloud computing or any security app, ensures data protection until you consciously play a role. Overly trusting third-party apps, phishing emails, unauthorized access, weak encryptions, and poor APIs are potential threats to data. You must arm yourself with enough knowledge and give training to your employees to take it seriously. Educate your team members about data security frequently.