Average cost of cloud account compromises reached $6.2 million over a 12-month period
Proofpoint, Inc. and Ponemon Institute released the results of a new study on “The Cost of Cloud Compromise and Shadow IT.” The average cost of cloud account compromises reached $6.2 million over a 12-month period, according to over 600 IT and IT security professionals in the U.S. In addition, 68% of these survey respondents believe cloud account takeovers present a significant security risk to their organizations, with more than half indicating the frequency and severity of cloud account compromises has increased over the last 12 months.
Douglas Murray, CEO at Valtix, says, "Clearly, the vast majority of organizations are at some stage of cloud migration and security is top of mind. And with 68% of participants in this survey pursuing a multi-cloud strategy, security can be a huge challenge. Each cloud infrastructure provider has unique security controls and architectures that one must understand. Organizations need to look for cloud-first models of security or the risk is high that the cost and frequency of cloud data breaches will continue to rise.