The cloud computing market has exploded in recent years and is expected to become a $191 billion industry by the end of 2020. The multiple advantages of cloud technology are causing many businesses to make the move, taking advantage of the lower cost and increased employee productivity.
As keeping sensitive data secure is a top priority for businesses today, the question arises, ‘which cyber security risks are a result of cloud technology.’ We’ll explain some of the threats that face cloud computing.
At a high level, cloud environments are exposed to the same threats that traditional data centres are. As cloud computing runs software and software has vulnerabilities and cyber criminals try and exploit these vulnerabilities, there is always some form of risk. However, partnering with a reputable cloud service provider with ample security measures in place will significantly mitigate these risks.
Some of the top risks can include:
Stolen Credentials – Whether using a data centre or cloud model, if an attacker gains access to cloud credentials, they can target the organization’s assets, leverage these resources to target the company’s administrative users or manipulate the cloud provider’s service to provide additional resources.
Lost Data – Cyber threats aside, data stored in the cloud can still be lost. A physical disaster such as an earthquake or fire could lead to the permanent loss of critical data. It is essential to ensure that your Cloud Service Provider has multiple locations storing your data to make sure that if one physical location is compromised that your data will remain safe.
Compromised Supply Chain – If your cloud service provider outsources their operations, the third-party organizations that they use may not follow the safety and security protocols. It is important when considering a cloud service provider to ask if they utilize any third-party services and if so if their requirements flow down to these organizations.
Insufficient Due Diligence – Too often, an organization will migrate to the cloud without performing the necessary due diligence. It is so important to understand what security measures the Cloud Service Provider has in place and their responsibility for providing security measures. Failure in understanding the full scope of your cloud agreement with a provider can leave you exposed to risk.
At MBC, we offer a 100% Canadian cloud without the security risks. Our private cloud-based environment is ultra-secure as only your organization can operate within that cloud. Public clouds often carry risks as information can be accessed from servers across public networks. Our private cloud technology is built using private storage, computers, and networks to keep your information secure online with superior levels of control.
To learn more about how our Private Cloud Service can create a controlled environment for your business with increased security, get a free assessment today.