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Developing Proactive Threat Mitigation Strategies for Cloud Misconfiguration Risks in Financial SaaS Applications

Year: 2025

Type: article

Abstract: Cloud misconfigurations in financial Software-as-a-Service (SaaS) applications pose significant cybersecurity risks, leading to data breaches, financial losses, and reputational harm. This study utilizes data from the Cloud Security Alliance (CSA) Top Threats Dataset, Verizon Data Breach Investigations Report (DBIR), and the MITRE ATT&CK Framework to examine the causes and types of misconfigurations, analyze their financial impact, and evaluate the effectiveness of mitigation strategies. A Chi-Square Test for Independence, Ordinary Least Squares (OLS) Regression, and Kaplan-Meier Survival Analysis were employed to quantify these risks. Findings indicate that IAM errors (183 occurrences) and exposed APIs (156 occurrences) are the most frequent misconfigurations, with high-severity misconfigurations resulting in an average financial loss of $7.6M and regulatory fines of $2.5M. Implementation of Zero Trust Architecture, Cloud Security Posture Management (CSPM), and strict IAM controls reduced breach probability from 70% to 40%. This study examines cloud misconfigurations in financial SaaS applications using datasets from 2018 to 2024, providing a risk quantification of security threats and a financial impact assessment of breaches. Findings reveal that IAM errors and exposed APIs are the most frequent misconfigurations, causing severe financial losses. The effectiveness of Zero Trust and CSPM in reducing breach probability is analyzed. Future research should explore AI-driven security solutions for real-time misconfiguration detection and automated risk prevention in cloud environments. Recommendations include automating security controls, enforcing Zero Trust policies, integrating security training, and strengthening regulatory compliance.

Source: Journal of Engineering Research and Reports

DOI: 10.9734/jerr/2025/v27i31442

Authors: Olufunke Cynthia Metibemu, Temilade Oluwatoyin Adesokan-Imran, Adekunbi Justina Ajayi, Olufisayo Juliana Tiwo, Abayomi Titilola Olutimehin, Oluwaseun Oladeji Olaniyi

Institutions: Ekiti State University, University of Ibadan, Obafemi Awolowo University, University of Lagos, Royal Holloway University of London, University of the Cumberlands

Language: English

Topic: Cloud Data Security Solutions

Subfield: Information Systems

Field: Computer Science

Domain: Physical Sciences

SDG: Climate action

Open Access status: diamond

OpenAlex ID: W4408481843

FWCI: 5.535

Cites:

Cited by: 5

Related to: 10