Most Businesses Don’t Protect their Sensitive Data in the Cloud
The 2021 Thales Global Cloud Security Study, commissioned by Thales and conducted by 451 Research, part of S&P Global Market Intelligence, reports that 40% of organisations have experienced a cloud-based data breach in the past 12 months.Despite increasing cyber-attacks targeting data in the cloud, the vast majority (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.
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 almost a quarter (24%) of organisations 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, one fifth (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 organisations have adopted a multicloud approach.
Even where businesses protect their data with encryption, 34% of organisations leave the control of keys to service providers rather than retaining control themselves. Where large numbers of organisations fail to protect their data sufficiently with encryption, limiting potential access points becomes even more critical. However, nearly half (48%) of business leaders globally admitted their organisation does not have a Zero Trust strategy, and a quarter (25%) aren’t even considering one.
Complexity as a concern
Businesses share common concerns about the increasing complexity of cloud services. Almost half (46%) of global respondents claimed managing privacy and data protection in the cloud is more complex than on-premises solutions.
Hybrid models are common with many organisations not moving entirely to the cloud. 55% of businesses have indicated a preference for a ‘lift & shift’ approach to cloud adoption over re-architecting, as cloud becomes a more integrated part of the business infrastructure.