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  • Writer's pictureMichael Paulyn

Here are the Top 4 SaaS Cybersecurity Threats for 2023

It's only the first month of 2023, but cybercriminals from all over are hard at work. For any SaaS business, staying safe online and ensuring sensitive data doesn't fall into the wrong hands is never more crucial. Here are four key areas to remember as we move into a new calendar year.

1. Weak Points of Web Application

At the heart of every SaaS business lies dozens of web applications used daily in and out to ensure business transactions run smoothly. The truth is that web applications do store sensitive customer data, which is invaluable for driving revenues and retention.

Most SaaS web applications run on servers to assist several or more customers, making security against potential attacks a top priority. Businesses should regularly conduct automated vulnerability scans along with consistent pentesting to check the security of these web applications and fix any weak points to keep this critical information safe from cybercriminals.

2. Error Riddled Misconfigurations

The business world heavily relies on cloud infrastructure to keep business running smoothly. A firm's CTO and DevOps engineers are at the center of this. They are responsible for keeping tabs on the security of every setting and personnel role, along with every granted permission within the network.

Misconfigurations riddled with errors can be challenging to remedy and permanently fix. A report from Gartner states that "these cause 80% of all data security breaches, and until 2025, up to 99% of cloud environment failures will be attributed to human errors."

It's crucial to conduct external network monitoring and pentests to ensure the cloud infrastructure is safe and secure from data breaches. These scans can help fix misconfigured S3 buckets, permissive firewalls within VPCs, and overly permissive cloud accounts.

3. Software Vulnerabilities and Patching

As obvious as this might sound, this point is a big issue for all kinds of firms, not just SaaS businesses. It's critical to ensure that the operating system and library security patches are released once complete. This patching process is unending, as weak security points can pop up anytime, making this aspect a top priority.

4. Poor Internal Security Policies and Methods

Finally, large and small businesses can be at risk of data breaches or hacks simply due to poor internal security policies and methods. Cybercriminals don't discriminate; they're on the hunt for the path of least resistance. But there is hope that using a password manager that activates two-factor authentication and proper security training can mitigate potential risks.

Hungry for more? Join me each week, where I'll break down complex topics and dissect the latest news within the cybersecurity industry and blockchain ecosystem, simplifying the tech world.

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