Majority of Businesses Still Have Remote Working Cybersecurity Concerns One Year Into the Pandemic, Finds Thales
Despite being over a year into remote working and looking ahead to likely shifts to hybrid remote/in-office working models, four fifths (82%) of businesses still remain concerned about the security risks of employees working remotely.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210602005100/en/
This is just one of the key insights from the 2021 Thales Global Data Threat Report, a commissioned study conducted by 451 Research, part of S&P Global Market Intelligence, which reveals that managing security risks is undoubtedly getting more challenging, with nearly half (47%) of businesses seeing an increase in the volume, severity, and/or scope of cyber-attacks in the past 12 months.
Attacks On The Rise
In fact, of those who have ever experienced a breach, two in five (41%) happened in the last year. This number has nearly doubled from 21% in 2019, marking a significant shift in the threat posed.
Globally, malware (54%) is the leading source of security attacks, followed by ransomware (48%), and phishing (41%). Yet, when it comes to how attacks occur, the message is clear: internal threats and human error are still of great concern to industry. A third of businesses stated that malicious insiders (35%) and human error (31%) are the greatest risks to them, followed by external attackers (22%).
Despite the increased risk remote working has posed to enterprises throughout the pandemic, nearly half (46%) of businesses report that their security infrastructure was not prepared to handle the risks caused by Covid-19. In fact, only one in five (20%) of organisations believe it was very prepared.
Multiple Industries at Risk
This lack of protection is affecting some industries more than others it seems, with just under two thirds (61%) of retailers surveyed experiencing a breach or failing an audit involving data and applications stored in the cloud in the past year – the most of any industry surveyed. Over half of organisations in the legal (57%), call centre (55%), transportation (54%), and telecommunications (52%) sectors also suffered the same fate in the last 12 months.
Multicloud Complexity Increases Risks
As increases in attacks continue, businesses are turning to the cloud to store their data in this digital-first world. Half (50%) of businesses report that more than 40% of their data is stored in external cloud environments. Despite this, only 17% of businesses have encrypted at least half of their sensitive data stored in the cloud. On top of this, complexity is an increasing issue, with many respondents now using at least two PaaS (Platform as a Service) providers (45%) and/or two IaaS providers (Infrastructure as a Service). A quarter (27%) of businesses are currently using more than 50 SaaS (Software as a Service) apps.
Sebastien Cano, Senior Vice President for Cloud Protection and Licensing activities at Thales comments: “Teams across the globe have faced huge security challenges over the last year as companies accelerated their digital transformation and cloud adoption initiatives.When migrating to multicloud solutions, data management can quickly spiral out of control. Organisations not only risk losing track of where their data is stored across multicloud environments but also fail to protect sensitive data in the cloud. With once unprecedented amounts of data now being used and stored in the cloud, it is vital that businesses deploy a robust security strategy based on data discovery, protection and control.”
Future Challenges and the Road Ahead
Companies are recognising the issues they are facing and are attempting to address them with Zero Trust strategies. More than three quarters (76%) of respondents’ cloud strategy reportedly rely to some degree on Zero Trust security. Almost half (44%) of respondents selected Zero Trust network access (ZTNA)/software-defined perimeter (SDP) as the leading technology to invest in during the pandemic. This was followed by cloud-based access management (42%) and conditional access (41%). In fact, a third (30%) of global respondents claim to have a formal Zero Trust strategy and, interestingly, those with a formal Zero Trust strategy are less likely to also report having been breached.
However, despite businesses making moves to stop current threats, worries are growing about future challenges on the horizon. Looking ahead, 85% of global respondents are concerned about the security threats of quantum computing, a threat arguably exacerbated by the increasing complexity of cloud environments.
Eric Hanselman, Chief Analyst at 451 Research, part of S&P Global Market Intelligence added: “The native controls and protections available in cloud environments address a set of necessary capabilities, but they’re often insufficient to deliver effective protections for sensitive data and workloads, especially when it comes to compliance with regulations such as GDPR and the implications of the Schrems II ruling. Organisations need to increase their use of encryption and ensure they take full advantage of encryption’s benefits by controlling the secrets that protect their data through BYOK (Bring Your Own Key), HYOK (Hold Your Own Key) or BYOE (Bring Your Own Encryption) approaches. Organisations also need to make internal changes to ensure that personnel at all levels understand the security challenges and to properly align investment priorities. Senior executives need to obtain a more complete understanding of the levels of risk and attack activity that their front-line staff are experiencing.”
Thales and 451 Research will discuss the findings in more detail during its upcoming Crypto Summit on 16 June 2021. To join, please visit the registration page.
About the 2021 Thales Global Data Threat Report
The 2021 Thales Global Data Threat Report was based on a global 451 Research survey commissioned by Thales of more than 2,600 executives with responsibility for or influence over IT and data security. Respondents were from 16 countries: Australia, Brazil, France, Germany, Hong Kong, India, Japan, Mexico, Netherlands, New Zealand, Singapore, South Korea, Sweden, the United Arab Emirates, the United Kingdom, and the United States. Organisations represented a range of industries, with a primary emphasis on healthcare, financial services, retail, technology, and federal government. Job titles ranged from C-level executives including CEO, CFO, Chief Data Officer, CISO, Chief Data Scientist, and Chief Risk Officer, to SVP/VP, IT Administrator, Security Analyst, Security Engineer, and Systems Administrator. Respondents represented a broad range of organizational sizes, with the majority ranging from 500 to 10,000 employees. The survey was conducted in January - February 2021.
Thales (Euronext Paris: HO) is a global leader in advanced technologies, investing in digital and “deep tech” innovations – connectivity, big data, artificial intelligence, cybersecurity and quantum computing – to build a confident future crucial for the development of our societies. The Group provides its customers – businesses, organisations and governments – in the defense, aeronautics, space, transport, and digital identity and security domains with solutions, services and products that help them fulfil their critical role, consideration for the individual being the driving force behind all decisions.
Thales has 81,000 employees in 68 countries. In 2020 the Group generated sales of €17 billion.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Thales, Media Relations
+33 (0)6 44 12 16 35
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
ČSOB Insurance Selects Earnix to Implement Personalized Consumer P roducts and Rates15.6.2021 11:00:00 CEST | Press release
Earnix, a global provider of advanced rating, pricing, and product personalization solutions for insurers and banks, has been selected by one of the largest banking and insurance institutions in the Czech Republic, ČSOB Group, to integrate Earnix’s analytical personalization system into its personal lines insurance offering. Driven by cutting-edge analytics, artificial intelligence (AI) and machine learning (ML), Earnix’s “Personalize-It” solution determines and delivers the optimum product bundle(s) for insurance customers, thereby making the purchasing experience highly personalized and increasing consumer satisfaction while improving conversion and retention rates. “With our solution, ČSOB Insurance can take personalization to a higher level while meeting business objectives and maintaining a competitive advantage in the market,” said Udi Ziv, CEO at Earnix. “At a time when consumers are provided with dozens of insurance options, we empower insurers to position themselves as the bes
Samsung Brings Flagship Features to Broader Smartphone Market with LPDDR5 Multichip Package15.6.2021 10:00:00 CEST | Press release
Samsung Electronics Co., Ltd., the world leader in advanced memory technology, today announced that it has begun mass producing its latest smartphone memory solution, the LPDDR5 UFS-based multichip package (uMCP). Samsung’s uMCP integrates the fastest LPDDR5 DRAM with the latest UFS 3.1 NAND flash, delivering flagship-level performance to a much broader range of smartphone users. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210615005507/en/ Samsung's uMCP with industry’s highest performance, capacity and efficiency for 5G applications (Photo: Business Wire) “Samsung’s new LPDDR5 uMCP is built upon our rich legacy of memory advancements and packaging know-how, enabling consumers to enjoy uninterrupted streaming, gaming and mixed reality experiences even in lower-tier devices,” said Young-soo Sohn, vice president of the Memory Product Planning Team at Samsung Electronics. “As 5G-compatible devices become more mainstream, we
Startups from 21 Countries Showcase Deep Tech Innovations at #InnoVEXVirtual15.6.2021 09:23:00 CEST | Press release
Startups are the key to technology development, and they are the driver for industry transformations and evolutions. In COMPUTEX 2021 Virtual, the event organizer, TAITRA, has dedicated a special hall for #InnoVEXVirtual. With 81 startups from 21 countries, TAITRA aims to empower these startups by bridging the network and business opportunities with them and the global technology ecosystem through the digital platform. Sparking creativity with global disruptors Since its first establishment in 2016, InnoVEX, the exhibit dedicated to startups at COMPUTEX, has successively hosted National Pavilions from France, Korea and the Netherland. The National Pavilions have become one of the exhibition highlights to the visitors, venture capitalists and media. This year, La French Tech Pavilion, organized by Business France, gathers 5 teams to showcase tech strength and diversity from France in the fields including Quantum Computing as a Service, Organic Photovoltaic, Wireless Charging, Processing
MACIF’s Successful Euro 1,75 bn Issuance Attracted Huge Appetite From European Investors15.6.2021 09:05:00 CEST | Press release
MACIF, Aéma Groupe’s affiliate, announces the successful issuance of a multi-tranche €1.75bn subordinated debt issuance comprising: - a €400mn Perpetual Non-Call 2029 Restricted Tier 1 fixed resettable rate notes bearing interest at an initial fixed rate of 3.50% until the first call date and expected to be rated Ba1 by Moody’s - a €850mn 2052 Non-Call 2032 Tier 2 fixed to floating rate notes bearing interest at an initial fixed rate of 2.125% until the first call date and expected to be rated Baa1 by Moody’s - a €500mn 2027 Tier 3 notes bearing interest at a 0.625% fixed rate coupon and expected to be rated Baa1 by Moody’s MACIF has met with over 85 institutional investors over phone calls which took place from 8th to 11th June 2021 in order to present the Group’s credit. With more than 400 investors participating into the multi-tranche transaction for a total book size over €12.1bn, this represents the first Euro triple-tranche subordinated from a European insurer. The three days of
Aragen Announce Multi-Year Partnership With FMC Corporation, Aims at Accelerating Agro-Chemical Pipeline15.6.2021 09:03:00 CEST | Press release
Aragen Life Sciences (formerly, GVK BIO), a leading Contract Research and Development Organization (CRDO), head quartered out of Hyderabad, India, announced a strategic partnership with FMC Corporation, a global leader in innovative agricultural science, that provides solutions towards crop protection, plant health, and professional pest and turf management. Through this collaboration, Aragen will support FMC’s global discovery and development needs, including discovery chemistry, discovery biology, and chemical process development. This partnership is focused on accelerating FMC Corporation’s agro-chemical pipeline. “It has been our privilege to have been able to assist FMC, one of the global leaders in crop science, accelerate its R&D, through this long term partnership. The expansion of this collaboration through all facets of discovery and development is a testimony to the trust and confidence that FMC has in Aragen - we look forward to driving several more success stories for our
KeyBank Goes Live With SmartStream’s Cloud Collateral Management Solution15.6.2021 09:00:00 CEST | Press release
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announces KeyBank N.A. goes live with its TLM Collateral Management (formerly Algorithmics/IBM Collateral) OnDemand solution - offering coverage for cleared and non-cleared, over the-counter (OTC) derivatives, repo and securities lending margining. KeyBank needed to streamline its back-office workflow with a cloud offering that would enhance efficiencies within their collateral management operations - this included all data capture, validation, calculation and processing. In addition, the use of APIs links the application to various other reporting solutions and downstream systems. A powerful user interface provides clear and logical paths for the user, and a management dashboard will help with trend analysis and decision-making. Paula Janofsky, Swap Operations Director, KeyBank, states: “Moving to the cloud enabled us to further improve and automate our operational and credit risk
Polymateria Awarded as Technology Pioneer by World Economic Forum15.6.2021 09:00:00 CEST | Press release
Polymateria, the London-based British tech company that last year produced the world’s first fully recyclable and biodegradable plastic, was selected among hundreds of candidates as one of the World Economic Forum’s “Technology Pioneers”. Polymateria came through Imperial College London’s incubator system and counts a diverse portfolio of customers and partners from Indorama Ventures, to Hollywood Actress Robin Wright, purposeful auto racing Extreme E, Rolling Loud Festivals, DAZN Sports TV network and the Indian Government. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210615005173/en/ The World Economic Forum’s Technology Pioneers are early to growth-stage companies from around the world that are involved in the use of new technologies and innovation that are poised to have a significant impact on business and society. With their selection as Technology Pioneer, CEO Niall Dunne of Polymateria will be invited to participat
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom