Data security is creating fear and trust issues for IT professionals, according to the third-annual Oracle and KPMG Cloud Threat Report 2020. The study of 750 cybersecurity and IT professionals across the globe found that a patchwork approach to data security, misconfigured services and confusion around new cloud security models has created a crisis of confidence that will only be fixed by organizations making security part of the culture of their business.
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Data Security is Keeping IT Professionals Awake at Night
Demonstrating the fear and trust issues experienced by IT professionals, the study found that IT professionals are more concerned about the security of their company’s data than the security of their own home.
- IT professionals are 3X more concerned about the security of company financials and intellectual property than their home security.
- IT professionals have concerns about cloud service providers; 80 percent are concerned that cloud service providers they do business with will become competitors in their core markets.
- 75 percent of IT professionals view the public cloud as more secure than their own data centers, yet 92 percent of IT professionals do not trust their organization is well prepared to secure public cloud services.
- Nearly 80 percent of IT professionals say that recent data breaches experienced by other businesses have increased their organization’s focus on securing data moving forward.
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Legacy Data Security Approaches Leave IT Professionals Playing Whac-A-Mole
IT professionals are using a patchwork of different cybersecurity products to try and address data security concerns, but face an uphill battle as these systems are seldom configured correctly.
- 78 percent of organizations use more than 50 discrete cybersecurity products to address security issues; 37 percent use more than 100 cybersecurity products.
- Organizations who discovered misconfigured cloud services experienced 10 or more data loss incidents in the last year.
- 59 percent of organizations shared that employees with privileged cloud accounts have had those credentials compromised by a spear phishing attack.
- The most common types of misconfigurations are:
- Over-privileged accounts (37 percent)
- Exposed web servers and other types of server workloads (35 percent)
- Lack of multi-factor authentication for access to key services (33 percent)
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