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Security and the Cloud: Moving Data to the Cloud Multiplies the Cost of Security Breaches
The cost of a security breach in a cloud apps is generally significantly more expensive to remedy compared to a similar app running on-premise — as much as three times more expensive, based on a study by the Ponemon Institute and Netskope.
- Two-thirds of IT security professionals thought that the cloud makes securing sensitive and confidential information much harder
- 64 percent say that the cloud makes securing business critical applications harder
- 62 percent of IT professionals say that they aren’t sure whether the cloud apps they deploy have been fully vetted for security holes
- Rapidly expanding cloud operations is also thought to contribute to high costs of data breaches
Sanjay Beri, CEO and founder of Netskope, said that “with a $201 price tag for every record lost, the cost of a data breach of just 100,000 records is $20 million. Imagine then if the probability of that data breach were to triple simply because you increased your use of the cloud. That’s what enterprise IT folks are coming to grips with and they’ve started to recognize the need to align their security programs to account for it.”
Beri said that “I think one of the things that we see coming up is enterprises and CIOs not only reacting to cloud usage but having a proactive policy on it. I think people will be more on the front foot now and taking a proactive approach versus a reactive one. They know that every business application is spreading to every business unit.”
