In the modern world, data breaches have become a fact of life for many businesses and even government agencies. Repeated headlines about the latest major business or bank data breach have almost desensitized businesses to the risks involved.
However, there are many reasons that your business should carefully rethink its cloud strategy and consider the benefit of adding as much protection to the cloud as possible. Some of the biggest cybersecurity facts that should make you reexamine your cloud strategy for greater protection include:
The Number of New Threat Signals Created Every Day
There are hundreds of thousands of new pieces of malware created every day. This includes viruses, advanced persistent threats, adware, Trojans, ransomware, and more.
According to statistics cited by CNN Money, in 2014 alone, “more than 314 million new pieces of malware” were created. That’s over 860,000 new malware programs created each day. These attacks are becoming more frequent as hacker discover new opportunities for profit.
However, there is one piece of good news: the vast majority of these new threat signals rely on very old exploits and vulnerabilities, so protecting against them is often as easy as ensuring you have the latest software security updates.
Public cloud service providers are especially good for keeping up with software vulnerability updates since they manage such processes themselves rather than forcing you to do so.
Cost of a Data Breach
Data breaches can have enormous costs for any organization. Between making reparations to customers, disruption to business operations, and potential loss of business as consumer trust evaporates, the cost can be significant.
For larger businesses, the cost of a single data breach easily climbs into the hundreds of millions. However, the actual cost may vary quite a bit from those astronomical figures. As noted by IBM’s own research, “the average consolidated total cost of a data breach grew from $3.8 million to $4 million” in their 2016 study.
While significantly less than what Target, JPMorgan Chase, and many other businesses have lost to data breaches in the last few years, few companies could ill afford to lose $4 million.
Billions of Records Are Compromised Each Year
Data breaches happen all the time. According to statistics cited on breachlevelindex.com, every day, approximately 3,572,676 records are lost or stolen. Worse yet is that only “4% of breaches were ‘Secure Breaches’ where encryption was used and the stolen data was rendered useless.”
Using a data-at-rest encryption solution is a great way to keep attackers from using the data they steal to harm your business and your customers. However, many cloud service providers treat critical security measures such as encryption as an add-on feature and not as key service every one of their cloud users should have access to.
The threats out there are just too numerous, too impactful, and too frequently successful for your business to ignore or chalk up as unimportant. It’s time to rethink your cloud strategy for stronger security and resiliency in the face of a cyberattack. It’s time for secure cloud solutions from WHOA.