To say that the cloud has changed our lives is something of an understatement, particularly in terms of how we do business. Cloud solutions not only empower employees to work anywhere at anytime from any device, but also make collaboration and communication easier than ever before. Backup and disaster recovery, business continuity – these are all things that become far easier when everything is stored in the cloud as opposed to locally on a machine in your office.
The flip side of this particular coin, however, comes down to one word: security. Yes, it’s true that with the cloud you don’t have to worry about equipment failure, physical theft and other issues that would formerly cause you to lose data. But you do have to worry about a problem that is getting worse all the time: cyber crime.
Fraud in the Cloud-Based World: Facts and Figures
According to one study, cyber crime damage and related costs are expected to hit a devastating $6 trillion per year by as soon as 2021. That number is up from just $3 trillion in 2015. According to a yearly study conducted by IBM and Ponemon Institute, the average consolidated cost of a single data breach hit $3.62 million in 2017. While it’s true that this represents 10% decline from the 2016 number, it still represents a cost of about $141 per lost or stolen document – a cost far too great for even most strong enterprises to afford.
In many ways, the cloud was looked at as a way to solve all of these problems in one fell swoop. However, thanks to the unique nature in terms of how it actually operates, it has created a whole new series of considerations that people must take into account when designing, launching and maintaining their cloud-based solutions.
Cloud Security Considerations
In the world of the cloud, literally every device becomes a potential vulnerability just waiting to be taken advantage of under the right conditions. Consider for a moment the business that allows its employees to access a confidential file service from their smartphones and tablets using a cloud-based storage system. This is the perfect way to empower productivity – whether an employee is halfway around the world on vacation or sitting in their office, they can access anything they need at a moment’s notice.
Now, imagine that this employee leaves their smartphone behind in a bar, or a taxi cab, or in an airport lounge. You can begin to see how severe this problem becomes.
Another issue has to do with regulatory compliance – something that affects nearly every industry. Not all cloud-based solutions are created equally. What works well for personal users may not offer the protection that a healthcare or financial organization needs to stay compliant, leading to costly violations before you know it. When you remember that regulations are also constantly changing, this quickly becomes an uphill battle.
To truly stay safe in the cloud, a two tiered proactive approach is needed. First comes the acknowledgement that past security models are no longer viable. Simply installing an antivirus solution on every device or a network monitoring solution isn’t going to cut it. Total, end-to-end security is needed – as are policies dictating what happens when a cloud-enabled device is lost or stolen, what happens when an employee leaves the company and more.
But more than that comes the acknowledgement that security in the age of the cloud is a shared responsibility. Businesses need to be conducting regular risk and privacy impact assessments so that they understand what they face, what potential situations they may find themselves in and how to recover from certain issues moving forward. Companies need to find cloud-based partners that not only offer the services they need in terms of regulatory compliance and productivity, but security as well.
Only by keeping these essential factors in mind will organizations be able to enjoy all of the benefits of the cloud with as few of the downsides as possible.
Contact us today to discuss your organization’s cloud security!
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