The Impact of Cloud Security Services on the Financial Sector, Health Industry and Critical Infrastructure

December 12, 2024

Cyber threats have become more frequent and more sophisticated. As these cyber threats often target cornerstone industries — finance, healthcare and infrastructure — effective cloud security services have become integral to safeguarding sensitive data, building operational resilience and complying with regulatory requirements.

Gartner predicts that more than 50% of enterprises will use industry cloud platforms by 2028 to accelerate their business initiatives, advancing the view of cloud as an enabler to a business necessity. It is important that these organizations recognize that securing your cloud is just as important as securing your on prem environment.

Despite the different infrastructure, misconfiguration risks, an increased attack surface and complex compliance requirements can leave your sensitive data a prime target for bad actors, if security is not prioritized.

According to Optiv’s 2024 Cybersecurity Threat and Risk Management Report, 42% of organizations plan to invest in securing their cloud, yet only 55% leverage their MSSPs or consultants for cloud security advice and support.

With the shift to the cloud comes the increasing need for strong, adaptable cloud security.

The Need for Cloud Security for Healthcare

In the past, the healthcare industry has been slow to adopt cloud solutions due to HIPAA and privacy concerns. Now, these organizations are focused on catching up due to business demands to leverage cloud enable services for both business/IT operations and patient care. The increasing digitization of medical records and connected devices, such as IoT medical devices, have made healthcare systems prime targets for cybercriminals, with cyberattacks putting confidential patient information at risk.

Hospitals and healthcare providers have long been targeted by cyber criminals, and now that the industry is adopting cloud solutions, it is especially important that they invest in securing their cloud foundation to protect patient data and minimize operating costs.

The Need for Cloud Security for Critical Infrastructure

For a long time, critical infrastructure industries have relied on the OT/IT air gap as their default for cybersecurity. Historically, we have seen many case studies that show this approach leading to disastrous consequences. Furthermore, business leadership are pushing for enhanced visibility and operational efficiencies which is driving the adoption of cloud within operational environments. This is going to be a significant learning curve for decentralized operational workforces that aren’t as tech or security savvy as their corporate counterparts.

With far-reaching consequences, the stakes are exceptionally high, as cyberattacks on critical infrastructure cause operational disruptions and can lead to widespread chaos and long-term societal impacts and due to the national security implications.

The Need for Cloud Security for Financial Institutions

Financial institutions have a higher rate of cloud adoption and are typically more mature in this area. The financial sector faces constant threats from hackers seeking to exploit vulnerabilities and commit fraud, so it is all the more important to ensure that your cloud environment is providing maximum visibility, continuous compliance checks and strong data resilience solutions across your cloud infrastructure.

Adopting Cloud Security Solutions

The financial, healthcare and critical infrastructure sectors face unique security challenges due to the sensitive nature of the data they manage and the vital services they provide. When adopting cloud security solutions, here are a few controls that need to be considered as key parts of your cloud security program.

When considering adopting a cloud security solution, there are several factors to take into consideration. Here are a few questions to help your organization determine the transition and impact of the cloud solution:

Strengthen Your Cloud Security with Optiv

Optiv offers comprehensive cloud security services designed to address the unique needs of industries facing complex cybersecurity challenges. Optiv can help develop and implement a cloud security strategy that strengthens your defenses, mitigates risks and supports compliance.

Contact us today to learn more about how we can help organizations build a resilient cloud security strategy that protects critical systems and data from cyber threats.