Companies no longer need to spend huge of resources on creating and maintaining servers.
Here are some of the commonly known security threats:Data BreachA data breach happens when the data is lost from the servers and lands in hands of people with malicious intent and can potentially cause reputational and financial damage to the organization whose data is lost.
Financial institutions losing customer data is such a huge credibility concern apart from having significant legal liabilities.Mitigation Ways:Ensuring that the data stored on the cloud is encrypted and End to end Encryption of data in transit.Making sure that there are robust testing standards followed by cloud service providers.
Account HijackingKeeping an easy-to-guess password is one of the grave mistakes anyone can make, especially when they need to remember a lot of them.
When on the cloud the companies do not have much visibility of cloud infrastructure so they cannot respond to these threats effectively.Mitigations Ways:Using a password manager to manage all the passwords so that you only need to remember one strong password and use it as a gateway to use your cloud instance.Keeping a strong password for your cloud instance and regularly changing the password to avoid it reaching the hands of people who should not have access to it in any way.
One should be aware that the configuration settings of their cloud service instance so that is easily managed and is done keeping security in mind.