Some 59% Of Oz Companies Admit Cloud Security Lacking

Chubb’s report is backed up by the release of a new study from Thales, researched by Ponemon Institute, which has exposed an increasing disparity between the rapid growth of data stored in the cloud and an organisation’s approach to cloud security.

Thales says although nearly half (49pc) of corporate data is stored in the cloud, a quarter (24pc) of Australian organisations admit they have not employed a security-first approach to data storage in the cloud with only 16pc saying that security is a factor when selecting providers.

A majority (62pc) of Australian businesses believe that cloud storage makes it more difficult to protect sensitive data. A total of 88pc attributed this problem to the difficulty of applying conventional security methods in the cloud, and 61pc blamed the complexity of privacy and data protection regulations.

However some 59pc of Australian businesses and other organisations still do not use encryption or tokenisation to protect sensitive data in the cloud, Thales reports.

“This study shows that businesses today are taking advantage of the opportunities that new cloud options offer, but aren’t adequately addressing data security,” said Graeme Pyper, A/NZ regional director for cloud protection and licensing activity at Thales. “An organisation’s reputation is on the line when a data breach occurs, so it is critical to ensure in-house teams keep a close eye on your security posture and always retain control of encryption keys.”