The Rise of Profit-Focused Cybercrime on the Cloud

It is encouraging to think that the cloud may make us safer. But, it can be just as vulnerable if we do not protect it properly.
As cybercriminals look for ways to outsmart IT, they set their sights on cloud services that are still vulnerable to attack. What is making it so much easier now is the whole movement toward cloud computing—a motion that has led many businesses to hire firms that don’t specialize in that sort of security. 
Cybercriminals are already exploiting this new security arrangement between cloud networks and organizations to commit fraud, steal sensitive financial data, or even launch ransomware attacks on local businesses. 
In fact, there is a growing list of breaches like lost personally identifiable information (PII) and stolen credit card or banking information linked directly to cloud service providers (CSPs).
Why is Cybercrime a Growing Concern?
Researchers of Trend Micro found that popular providers like Amazon, Facebook, Google, Twitter, PayPal at some poin…

Written By: Deepak Gupta

Original Article: https://readwrite.com/2021/12/17/the-rise-of-profit-focused-cybercrime-on-the-cloud/

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