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Get-Ready! Cloud-based Cyberattacks to Become a Costly Deal for Companies

Microsoft’s latest Security Intelligence Report states that cybercriminal’s advanced measures enable them to access to the valuable data and fleece the individuals world over

Cyber Attacks

Why do we need to secure cloud computing? Well, there are lots of reasons.Unlike the physical damage drivers, per se, Hurricanes, blizzards, derechos, and tornadoes, these all are capable to destroy any company’s physical assets. But it is highly indispensable for the corporate leaders to sense the immediate cybersecurity storm threatening technological companies and the other organizations that are relying on them.

Microsoft Corp.’s Azure is one fine example; it has been facing constant cyberattacks and also phishing schemes under its name by cybercriminals to fleece the individuals. According to Microsoft’s latest Security Intelligence Report, this has been happening because of cybercriminals advanced measures which enable them to access to the valuable data.

A massive hike in cyberattacks (around 300 percent) on Microsoft’s cloud-based user accounts has been recorded from 2016 to Q1 2017, the report says. Furthermore, fraudulent log-ins from malicious internet protocol (IP) addresses increased 44 percent in the same period, the report also states.

A large number of the could-targeted attacks are found their origin in the US, but they also have their roots in other places such as China, Microsoft said. The report also said that around two-third of the attacks on Microsoft’s Azure web service in Q1 2017 were attempted from the IP addresses in the US (35.1 percent) and China stands (around 32.5 percent). While South Korea holds the third place in the list with 3.1 percent attacks and 116 other countries are following behind it.

Not only Cloud-based services the only technology systems under attack. If we look at the recent large scale ransomware-like attacks, including Petya and WannaCry, and many multinational companies also have been targeted including Oreo-maker Mondelez International Inc., shipping magnate A.P. Moller-Maersk A/S, and international law firm DLA Piper.

These attacks hit European companies most than the rest of the world. Companies and organizations that are located in the Czech Republic (0.17 percent), Italy (0.14 percent), Hungary (0.14 percent), and Spain (0.14 percent) saw the largest amount of ransomware encounters, the report said. But, Japan (0.012 percent), China (0.014 percent) and the U.S. (0.02 percent) were hit at the lowest rate, it said.

Microsoft claims in a recent blog that it invests nearly $1 billion annually on cybersecurity, and it becomes more important for the other organization too to spend more, as cloud-based and ransomware attacks are not seem to end in near future.

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Vikas Kumar

I have a passion to learn new things. There are always possibilities for learning. Everything needs to be analyzed critically, and I believe to do it by creating a solid bond between a reader and writer. Whether, it is an article or news story, it should not be distorted and must be reported in a balanced way. I believe to stick to the ethics of journalism.

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