Cloud storage has become mainstream. It is one of the fastest-growing segments of IT spending and an indispensable tool for many modern businesses. However, not enough is being done to secure data residing in the cloud. According to Gartner, 90% of organizations that fail to control public cloud use will share information inadvertently or inappropriately through 2025. Almost all cloud security failures will be due to the cloud customer, not the service provider.

Amazon S3, one of the leading cloud storage solutions, is used by companies all over the world to power their IT operations. Over four years, UpGuard has detected thousands of S3-related data breaches caused by the incorrect configuration of S3 security settings. Jeff Barr, Chief Evangelist for Amazon Web Services recently announced public access settings for S3 buckets, a new feature designed to help AWS customers stop the epidemic of data breaches caused by incorrect S3 security settings.

During the course of UpGuard’s cyber risk research, we uncover many assets that are publicly readable: cloud storage, file synchronization services, code repositories, and more. Most data exposures occur because of publicly readable assets, where sensitive and confidential data is leaked to the internet at large by way of a permissions misconfiguration.

Despite spending billions on cybersecurity solutions, private industry, government and enterprises alike are faced with the continued challenge of preventing data breaches. The reason cybersecurity solutions have not mitigated this problem is that the overwhelming majority of data exposure incidents are due to misconfigurations, typically by way of third-party vendors, not cutting-edge cyber attacks.

Nearly all large enterprises use the cloud to host servers, services, or data. Cloud hosted storage, like Amazon's S3, provides operational advantages over traditional computing that allow resources to be automatically distributed across robust and geographically varied servers. However, the cloud is part of the internet, and without proper care, the line separating the two disappears completely in cloud leaks— a major problem when it comes to sensitive information.