40% of organizations suffered a cloud-based data breach in the past 12 months

Despite increasing cyberattacks targeting data in the cloud, 83% of businesses are still failing to encrypt half of the sensitive data they store in the cloud, raising even greater concerns as to the impact cyber criminals can have. 40% of organizations have experienced a cloud-based data breach in the past 12 months, according to a study conducted by 451 Research.

Pandemic has accelerated cloud transformation
Cloud adoption is on the rise and businesses are continuing to diversify the way they use cloud solutions. Globally, 57% of respondents reported they make use of two or more cloud infrastructure providers, whilst 24% of organizations flagged that the majority of their workloads and data now reside in the cloud.

In fact, according to a recent study by McKinsey & Company, companies globally have accelerated their cloud adoption by three years compared to pre-pandemic adoption rates.

This marks a significant shift in the use of cloud-based solutions, from being purely data storage solutions, to environments in which data is used transactionally and supports day-to-day business operations.

Security in the cloud is mixed
According to the study, 21% of businesses host the majority of their sensitive data in the cloud, while 40% reported a breach in the last year. There are some common trends as to where companies turn when considering how to secure their cloud infrastructure, with 33% reporting multi-factor authentication (MFA) as being a central part of their cybersecurity strategy. However, only 17% of those surveyed have encrypted more than half of the data they store in the cloud. This figure drops to 15% where organizations have adopted a multicloud approach.

Even where businesses protect their data with encryption, 34% of organizations leave the control of keys to service providers rather than retaining control themselves. Where large numbers of organizations fail to protect their data sufficiently with encryption, limiting potential access points becomes even more critical. However, 48% of business leaders globally admitted their organization does not have a zero trust strategy, and 25% aren’t even considering one.

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(2021) 40% of organizations suffered a cloud-based data breach in the past 12 months. Recovered on 4 November 2021 https://www.helpnetsecurity.com/2021/11/02/experienced-cloud-based-data-breach/