SaaS is a word that we have been hearing a lot lately. It stands for Software as a Service, and it works based on users having access to software online on a subscription basis. SaaS has gained popularity lately mostly because of its flexibility and affordable prices, especially when compared with the traditional hardware solutions businesses used to employ.
As SaaS became more and more popular, it has become one of the targets of cybercriminals. Since most businesses today use a handful of SaaS applications that contain sensitive data, it is important to determine the threats to your business’ SaaS environment and work to mitigate them.
Common Security Threats Facing SaaS Environments
As SaaS environments got more sophisticated, so did the threats surrounding them. Fortunately, it is not hard to protect your business from these threats when you know what you are up against.
Data breaches
A data breach is when confidential and sensitive information is exposed to an unauthorized user or entity. It can be detrimental to a business if precautions or recovery plans are not made beforehand. Data breaches can happen due to an accidental error by an employee, through an attack by a malicious outsider, or because of data exposure through a lost or stolen device.
An example of a data breach could be the widely-known 2017 Equifax data breach. As a result of the breach, credit reports from over 140 million people were affected and Equifax had to pay a costly settlement. The reason behind the breach was reported to be the negligence of security officials to install a software update.
Insider threats
Another threat to the security of a SaaS environment can be the ones originating from inside your organization. This includes your employees, contractors, or users that have authorized access to your data and systems. The privilege of this authorization can be misused, whether intentionally or unintentionally, and this can result in a blow to your organization’s cybersecurity.
An example of an insider threat could be the incident between Edward Snowden and NSA in 2013. Snowden was a former contractor for the US National Security Agency (NSA), and he leaked classified information to the media, exposing the NSA’s surveillance programs. This resulted in increased interest in encryption and concerns about cloud security, and became known as the “Snowden effect.”
Phishing attacks
Phishing attacks are a type of cyberattack that involves using fraudulent messages, typically via email or text, to trick recipients into disclosing sensitive information, such as login credentials, credit card numbers, or personal information.
One of the most popular ways of phishing attacks is called the business email compromise (BEC). In those attacks, the attackers impersonate a business’ executive account and try to trick the recipient into sharing private information.
Practical Tips to Mitigate SaaS Security Threats
SaaS security threats might be scary and intimidating. Thankfully, there are some practical ways of protecting your organization and ensuring SaaS security as much as possible.
Strengthen passwords
Weak passwords are one of the leading causes of data breaches. It is essential to encourage your employees and users to set strong passwords and create password policies where users might need to update their passwords after a certain time period.
Two-factor authentication
It is also strongly suggested to implement two-factor authentication (2FA) policy in your organization for an additional layer of security. With 2FA, users need to provide two types of credentials to log in, such as a password and a one-time code generated by a mobile app or sent via SMS. This practice gives you the security of knowing that even if a password is breached, there is an additional layer of security to prevent data from being compromised.
Implement access controls
Access controls give organizations the option to limit the actions users can perform based on their job titles and responsibilities. Below are two popular types of access control.
Role-based access control (RBAC)
With RBAC, user access is limited based on their job title and role within your organization. This way, each user is defined as having specific access based on their responsibilities and the data and systems they need to complete their duties.
Least privilege access (LPA)
LPA is one of the most popular terms in cybersecurity. It suggests that users should only have the minimum permissions needed to complete their job function. This reduces the risk of data compromise by making sure users don’t have excessive privileges.
Conduct regular security audits
Security audits help identify any vulnerabilities and weaknesses that put your SaaS environment at risk. It is important to conduct them regularly to be able to take precautions and fix vulnerabilities before they become a problem.
Back up data regularly
Backups ensure that data can be recovered in case of accidental deletion, hardware failure, or cyber-attacks. Since one of the negative implications of a data breach is not being able to recover lost data, regular data backups help your organization eliminate that problem.
Educate employees on security awareness
Employees are a SaaS environment’s first line of defense against security threats. Therefore, educating them on security best practices can help prevent incidents caused by inadvertent or intentional actions. It’s essential to create a security awareness program and involve all employees in it, including new hires, contractors, and third-party vendors who have access to the SaaS environment.
Latest Security Technologies for SaaS Environments
Threat intelligence
Threat intelligence is a practice of collecting, analyzing, and sharing records about viable cyber threats and vulnerabilities that may affect a SaaS environment. The purpose of risk intelligence is to discover threats preemptively.
Endpoint protection
Endpoint protection is an exercise of securing endpoints such as laptops, desktops, and other devices from cyber-attacks. Endpoint safety involves installing safety software on endpoints to become aware of and prevent malicious activities.
Final Words
In conclusion, securing a SaaS environment is a critical practice for protecting sensitive data and ensuring business continuity. By following the best practices outlined above, organizations can help reduce the risk of security incidents and protect their SaaS environment from potential threats.
