Internet Dependency: By using the cloud services, we’re dependent upon the Internet connection, so if the Internet temporarily fails due to a lightning strike or ISP maintenance,the clients won’t be able to connect to the cloud services. Therefore, the business will slowly lose money, because the users won’t be able to use the service that’s required for the business operation. Not to mention the services that need to be available 24/7, like a hospital or law agency, where human lives are at stake.
Malicious Insiders: Employees working at cloud service provider could have complete access to the company resources. Therefore cloud service providers must have proper security measures in place to track employee actions like viewing a customer’s data. Since cloud service providers often don’t follow the best security guidelines and don’t implement a security policy,employees can gather confidential information from arbitrary customers without being detected.
Account/Service Hijacking: It’s often the case that only a password is required to access our account in the cloud and manipulate the data, which is why the usage of two-factor authentication is preferred. Nevertheless, an attacker gaining access to your account can manipulate and change the data and therefore make the data untrustworthy. An attacker having access to the cloud virtual machine hosting our business website can include a malicious code into the web page to attack users visiting our web page – this is known as the watering hole attack. An attacker can also disrupt the service by turning off the web server serving our website, rendering it inaccessible.
Ease of Use: The cloud services can easily be used by malicious attackers, since a registration process is very simple, because we only have to have a valid credit card. In some cases we can even pay for the cloud service by using PayPal, Western Union, Payza, Bitcoin, or Litecoin, in which cases they can stay totally anonymous. The cloud can be used maliciously for various purposes like spamming, malware distribution, botnet C&C servers, DDoS, password and hash cracking.
Data Loss: The data stored in the cloud could be lost due to the hard drive failure. A CSP could accidentally delete the data, an attacker might modify the data, etc. Therefore, the best way to protect against data loss is by having a proper data backup, which solves the data loss problems. Data loss can have catastrophic consequences to the business, which may result in a business bankruptcy, which is why keeping the data backed-up is always the best option.
Denial of Service: An attacker can issue a denial of service attack against the cloud service to render it inaccessible, therefore disrupting the service. There are a number of ways an attacker can disrupt the service in a virtualized cloud environment: by using all its CPU, RAM, disk space or network bandwidth.