This report delves into the critical aspects of data security and privacy within cloud computing environments. It begins by highlighting the increasing importance of data security in IT and the unique challenges posed by cloud environments, where data is distributed globally. The report poses key research questions concerning security concerns, privacy challenges, and mitigation strategies. It then examines various threats, including data breaches, network security vulnerabilities, data locality issues, and data access concerns. Specific threats such as DoS attacks, system vulnerabilities, accounting hijacking, malicious insiders, APT parasites, and permanent data loss are discussed. The report also addresses shared technology risks, broken authentication, and compromised credentials. Furthermore, it proposes several solutions, including written security policies, multi-factor authentication, data access controls, the use of suitable cloud models, and encryption of data backups. The conclusion emphasizes the need for businesses to establish trust with cloud service providers by implementing robust security measures. The report concludes by acknowledging the ongoing research to enhance data security in the cloud, while highlighting the need for further advancements to address existing gaps.