Cloud security has become increasingly crucial as more community banks are transitioning from on-premises solutions to cloud-based services. The rapid transition to the cloud has greatly expanded the potential areas for cyberattacks, posing a significant challenge for security teams.
Cybercriminals have been targeting cloud environments by exploiting vulnerabilities in public-facing applications like web servers, gaining access through valid accounts, password resets, or by planting web shells for long-term access.
These insights highlight the critical importance of implementing strong cloud security practices and actively managing exposure to mitigate the increasing threat of cloud-related attacks. This blog uncovers how to secure your cloud environment.
Five ways community banks can secure their cloud environments:
1. Encrypt all data within the cloud:
Encryption makes it more difficult for cybercriminals to infiltrate sensitive information stored in the cloud. This added layer of protection ensures that data remains secure and confidential, reducing the risk of cyberattacks and breaches. Encryption also allows for secure data transmission between users and the cloud, further enhancing the security of information stored in the cloud.
Implementing encryption also helps community banks comply with various data protection regulations and industry standards. By encrypting all data within the cloud, community banks can demonstrate a commitment to safeguarding sensitive information and maintaining data privacy.
2. Centralize visibility of private, hybrid, and multi-cloud environments:
Community banks can have visibility within a single pane of glass view across all cloud environments by centralizing the visibility of private, hybrid, and multi-cloud environments. IT teams can monitor and manage security controls, policies, and configurations more easily. This allows for better coordination and communication between different cloud environments, enabling community banks to quickly identify and remediate any security vulnerabilities or threats that may arise.
Investing in Extended Detection and Response (XDR) solutions can further enhance centralized visibility across multiple cloud environments. XDR is a security platform that integrates and correlates security data from various sources such as endpoints, networks, and applications, providing a holistic view of the community bank’s security posture.
3. Employ machine learning detection capabilities:
Leveraging threat detection capabilities, such as User Entity and Behavior Analytics (UEBA) and Machine Learning, detects and responds to security threats in real-time. UEBA technology analyzes user behavior patterns and identifies deviations that may indicate a potential security incident. Machine Learning algorithms help block and predict security incidents by analyzing large datasets and identifying patterns indicative of malicious activity. By leveraging these advanced technologies, community banks can proactively protect their cloud environments from cyber threats.
4. Implement multi-factor authentication (MFA):
Utilizing security tools and technologies, such as encryption, MFA, and intrusion detection systems, further enhances cloud security measures. MFA, specifically, adds an extra layer of protection to user accounts, requiring more than a password and username or email for access. MFA reduces the risk of unauthorized access and data breaches by requiring multiple verification forms to protect cloud data.
5. Regularly audit misconfigurations and stale accounts:
Community banks should prioritize regular audits and addressing misconfigurations in their cloud infrastructure to prevent cyber vulnerabilities that could lead to unauthorized access to sensitive data. By implementing automated tools, reviewing and updating security policies, and providing proper training to employees, banks can stay proactive in ensuring cloud security.
Additionally, managing and monitoring stale accounts is crucial to preventing cyber threats, as these inactive accounts can become easy targets for cybercriminals. Regularly reviewing user accounts, identifying and disabling stale accounts can help mitigate potential security risks for community banks.
Maximize Your Cloud Security with XDR
The shift to the cloud offers community banks a competitive edge by providing cost savings, increased agility, improved collaboration, and enhanced security features. It is no surprise that more and more community banks are transitioning to cloud services due to their numerous benefits.
For lean teams looking to enhance their cloud security and free up time for other operational tasks, XDR is invaluable. By seamlessly integrating with cloud security measures, XDR solutions provide continuous monitoring, threat detection, and prompt remediation, allowing community banks to safeguard their assets in the cloud proactively.
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