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Cloud Computing Presents Unique Security Issues

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June 21, 2022

Cloud security is the fastest growing segment of the security market, according to Znet. Spending on cloud security rise from $595 million in the US in 2020 to $841 million in 2021. Most businesses use multiple cloud services and cloud providers, a hybrid approach that can enhance certain aspects of security, but also introduces new complications. All providers have different security models that their customers need to understand and manage. That requires expertise extending over multiple cloud vendors’ systems. Applications and data are often switched between cloud services, which presents opportunities for errors and data leaks. Mis-configured services are the root causes for many security incidents, along with poor passwords and identity controls. Security issues are being addressed by new technologies such as Cloud Security Posture Management (CSPM) tools, and Cloud Access Security Brokers (CASBs), but there are a many misconceptions about the cloud and liability. Companies often assume risk is transferred when data moves to a third party. “That could be a naïve and costly assumption, says attorney and cloud liability expert Lauri Floresca. “While we’re more reliant than ever on cloud computing to store and process data, very few companies actually have cyber liability insurance.”

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