Application of cloud computing in banking and e-commerce and related security threats

Cloud computing is one of the most powerful inventions that has grabbed the curiosity of technologists all around the world. Cloud computing has many advantages, but it also has a slew of security risks that no organization can afford to ignore. For a successful Cloud Computing adoption in a corporation, proper planning and awareness of emerging risks, threats, vulnerabilities, and potential solutions are necessary. As a result, determining the most effective solution instructions to increase cloud security has become important for all cloud operations. In this research, we are investigating and assessing the most noteworthy network security and data security risks on cloud systems based on a literature review. Because many businesses have promoted and marketed virtual environments as the solution to current security concerns, a deeper look finds that virtualization adds extra software to the network system, which may have a negative influence on security if built and deployed poorly. Furthermore, data center hubs link their servers through software, which means that if something goes wrong, the final effect might be damaging to security. Consumers must rely on trust mechanisms since they have no control over the cloud's resources. This article examines several cloud computing applications in banking and e-commerce, as well as the security issues associated with them. Copyright (C) 2022 Elsevier Ltd. All rights reserved.