New findings from Venafi show 81% of companies have had a Cloud Security Incident in the last year.
Key findings:
- 45% of organizations suffered at least four incidents
- organizations in study host 41% of their apps in the cloud – expect that percentage to grow to 57% in the next 18 months
- 51% of security decision makers (SDMs) believe security risks are higher in the cloud than on premises
The critical operational and security concerns that SDMs have in relation to moving to the cloud are:
- Hijacking of accounts, services or traffic (35%)
- Malware or ransomware (31%)
- Privacy/data access issues, such as those from GDPR (31%)
- Unauthorized access (28%)
- Nation-state attacks (26%)
When it comes to deciding whether to implement cloud-based security solutions, security decision makers (SDMs) have a hard decision in front of them. Namely, how secure is the cloud-based solution and, is it more secure than keeping sensitive data on-premises. Over the past year, studies show that companies with cloud-based security solutions have had at least one security incident in their cloud environment. In contrast, cloud-based security is likely more “up-to-date” than on-premises solutions as the cloud-based security company maintains its solution in compliance with industry standards. Additionally, cloud-based solutions are often much cheaper than on-premises and do not require maintenance of “new” equipment and security professionals.