According to The State of Cloud Security 2020, a global survey from next-generation cybersecurity leader Sophos, more than three quarters (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 cryptojacking (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.
“Ransomware, not surprisingly, is one of the most widely reported cybercrimes in the public cloud. The most successful ransomware attacks include data in the public cloud, according to the State of Ransomware 2020 report, and attackers are shifting their methods to target cloud environments that cripple necessary infrastructure and increase the likelihood of payment,” said Chester Wisniewski, principal research scientist, Sophos. “The recent increase in remote working provides extra motivation to disable cloud infrastructure that is being relied on more than ever, so it’s worrisome that many organizations still don’t understand their responsibility in securing cloud data and workloads. Cloud security is a shared responsibility, and organizations need to carefully manage and monitor cloud environments in order to stay one step ahead of determined attackers.”
The Unintentional Open Door: 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%).
