Top 5 classifications of the risk involved in using cloud services

Risk has always been a part of everything we do, and moving in that direction often brings new explorative places. But too much of it can cause significant troubles in the long run. Although cloud services are moving the technological world ahead, that doesn’t mean the risk of using the Cloud goes unnoticed. IT firms are adopting cloud services at an increasing rate, but not knowing the risk involved is not a great plan, to begin with.  

To learn the other aspect of using cloud services, let’s list down five risks involved in using Cloud.  

UNAUTHORIZED ACCESS TO CUSTOMER AND BUSINESS DATA 

Criminals are not so fond of working, and their eyes are always on stealing and disrupting a business for financial gain. Why wouldn’t it be? Of course, that is an easy down road. Small businesses are an easy target and specifically start-ups who are finding their way to the hilltop. These small businesses don’t take on security plans and often ignore cloud services benefits because the initial investment cost can’t afford those expenses. Though criminals target big companies, only for the pig pay-outs, still the risk is higher as the security is quite well-secured to cause a breach.  

Big businesses rely more on cloud services because they are more capable of protecting data; however, a single point of failure from a cloud service provider can affect each customer. At times, companies face risk from cyber-criminals and insider threats from cloud computing itself. The more people have access to your data, the more at risk you are. Putting your trust in a third-party vendor isn’t always safe. That’s it always advisable to have a soft copy of essential data.  

SECURITY RISKS AT THE VENDOR

The moment a company hires a third-party vendor for their data security, they assume the risk of a breach won’t come as they have secured their data in the hands of an expert team. They rarely question whether  

  • The character of the vendor’s employees 
  • The security of the vendor’s technology 
  • The access the vendor has to their data 

The moment you include a third-party vendor to secure your data and assets, you put your trust in them. Not questioning whether there can be an insider threat that is as secure as it should be, is why it is called cloud computing risk.  

COMPLIANCE AND LEGAL RISKS

When businesses hire a third-party cloud service provider, they are accountable and responsible for data protection and maintain compliance with the legal acts of cloud computing and specific legal protection laws like HIPAA, PCI DSS. These protection laws are there to protect a company if a breach occurs. You can only benefit from these legal protection laws unless there is a legal document that claims compliance. If a breach occurs in reality, the vendor party won’t be held responsible for not complying with these laws. The company will be held responsible, so better keep your vendors at a secondary interest when it comes to protecting your organization.

RISKS RELATED TO LACK OF CONTROL

Giving complete control of your data to a cloud service provider is not always a safe option. At times CSPs ask for more money for the services that are in use to increase their paycheck. If this payment doesn’t get paid on time, your data can be held hostage and will be at risk unless you pay. When the data is in your hands, you have complete control over the organization. Once you give that control to an entity that is an unforeseeable factor, you are already at risk. 

AVAILABILITY RISKS

Lack of availability is always at risk when your company is running in the hands of two services, a cloud service vendor and your ISP. Internet downtimes occur no matter how much we try to avoid them when your data is at higher risk.  

iSmile technologies offer an all-in-one solution for your business network security and management that provides complete protection of your data.  

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