Cloud computing has fundamentally transformed the professional landscape, allowing companies of all sizes to keep pace with the rapid acceleration of business demands. As organizations worldwide increasingly adopt cloud technology, the global cloud services market is expanding significantly. Cloud computing is projected to reach $947.3 billion by 2026, with a compound annual growth rate (CAGR) of 16.3%. However, despite its numerous benefits, cloud computing also introduces potential vulnerabilities that need to be managed carefully.
Discover five key cloud vulnerabilities to watch for and learn how to develop a robust cybersecurity strategy to safeguard your data while maximizing the benefits of cloud computing.
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 an unsecured website to steal their information or hijack their session ID.
Keyloggers
A program that records the keystrokes made by users, including user IDs and passwords, and sends the information to attackers.
Buffer overflow attacks
Overwriting data in memory with malicious data designed to give the attacker unauthorized access.
Cross-site scripting (XSS) attacks
A type of injection attack where the attacker sends malicious scripts via a web browser to access vulnerable accounts.
Brute force attacks
When attackers gain access to accounts by guessing the password — usually with the help of software.
Account hijacking isn’t new. In 2014, an Egyptian-based researcher discovered a PayPal vulnerability that left approximately 150 million accounts open to this type of attack. Fortunately, the threat was corrected before any damage occurred. Seeing a corporate giant like PayPal vulnerable for PCI Compliance data breaches served as a warning to everyone to look at their own cybersecurity strategies.
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.
In 2019, Capital One experienced one of the largest data breaches in the United States, costing the company more than $300 million to remediate the problem. Data breach can be devastating for businesses of all sizes.
Protecting against data breaches
There are several ways you can fall victim to a data breach. Someone in your organization could downloaded malware, or an attacker could exploit various cloud security vulnerabilities to remotely bypass your network security. Attackers can also physically access your computer to steal information.
There isn’t a one-size-fits-all solution to preventing data breaches, but some good practices include:
- Routine security audits so you know who has access to your data at all times
- Secure and encrypted servers that allow you to retrieve your data through your cloud center
- A comprehensive incident response plan that includes cloud security
Insecure APIs
Application user interfaces (APIs) are a popular method to streamline cloud computing. Commonly used in offices, APIs make it easy to share information between two or more applications. Known for their convenience and ability to boost efficiency, APIs can also be a source of cloud vulnerabilities.
By exploiting insecure APIs, attackers can easily access enterprise data and launch DDoS attacks. What’s more, sophisticated attackers can use several measures to evade detection when launching API attacks.
As companies increase their dependence on APIs, there have been a growing number of attacks targeting them. In 2023, nearly half (45.8%) of all ATO attacks targeted API endpoints.
Protecting against API attacks
There are a few steps you can take to safeguard your cloud system from API attacks:
- Conduct penetration tests that emulate API attacks
- Use SSL/TLS encryption on transmitted data
- Strengthen your authentication controls with MFA
- Be selective with whom you share your API keys with, and dispose of API keys when they’re no longer needed
These are all precautionary measures to ensure API security. Developers are also responsible for creating APIs with stronger authentication.
Malicious Insiders
Even if you safeguard yourself from the other types of cloud security attacks, you could still be vulnerable to malicious insiders, including current and former:
- Employees
- Contractors
- Business partners
Enemies with unauthorized access to your systems could steal information, destroy data, and sabotage your IT systems. According to a Ponemon report:
- 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, companies 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. This involves restricting access to critical data by ensuring individuals only have access to the information necessary for their roles. Regular security audits should be conducted to identify and address potential risks, and access should be revoked promptly when it is no longer needed.
You can decide how often to run audits, but best practice is 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 another of the more common cloud security vulnerabilities and they can occur for many reasons. The integration of an insecure third-party application could create system risks, or they could arise due to poorly configured security tools within your cloud systems.
Common system vulnerabilities that could negatively impact your cloud services 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.
Protecting Against Cloud Vulnerabilities
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.
