82% of Philippine organizations fall victim to public cloud cybersecurity incidents

Published July 10, 2020, 7:27 AM

by MB Online

According to The State of Cloud Security 2020, a global survey from next-generation cybersecurity provider Sophos, more than 82% of organizations in the Philippines experienced a public cloud security incident in the last year – including ransomware and other malware (77%), exposed data (40%), compromised accounts (40%), and crypto-jacking (16%). Globally, organizations running multi-cloud environments are greater than 50% more likely to suffer a cloud security incident than those running a single cloud.

How attackers break-in
Accidental exposure continues to plague organizations, with misconfigurations exploited in 71% of reported attacks in the Philippines. Detailed in the SophosLabs 2020 Threat Report, misconfigurations drive the majority of incidents and are all too common given cloud management complexities.

Additionally, 27% of Philippine organizations report that cybercriminals gained access through stolen cloud provider account credentials. Despite this, less than half (32%) of organizations say managing access to cloud accounts is a top area of concern. Data from Sophos Cloud Optix, a cloud security posture management tool, further reveals that 91% of global accounts have overprivileged identity and access management roles, and 98% have multi-factor authentication disabled on their cloud provider accounts.

The silver lining
All Philippine respondents (100%) admit to concern about their current level of cloud security, while more than half (58%) of the respondents understood that security of an organization is a shared responsibility between organizations, partners, and vendors. These are encouraging signs that security is top of mind. Appropriately, identifying and responding to security incidents top the list of security concerns for 39% of respondents; staying compliant with relevant regulations, as well as a lack of visibility into infrastructure both come a close equal second (34%).
About the Survey

The State of Cloud Security 2020 report highlights findings of an independent survey conducted by Vanson Bourne among more than 3,500 IT managers across 26 countries in Europe, the Americas, Asia Pacific, the Middle East, and Africa that currently host data and workloads in the public cloud.

The full report, along with a detailed list of cloud security recommendations, is available at https://secure2.sophos.com/en-us/content/state-of-cloud-security.aspx.