CLOUD SOLUTIONS
44 % OF FINANCIAL INSTITUTIONS BELIEVE THEIR IT TEAMS ARE THE MAIN RISK TO CLOUD SECURITY
Netwrix , a cybersecurity vendor that makes data security easy , has announced additional findings for the financial and banking sector from its global 2022 Cloud Security Report .
Compared to other industries surveyed , financial institutions are much more concerned about users who have legitimate access to their cloud infrastructure . Indeed , 44 % of respondents in this sector say their own IT staff poses the biggest risk to data security in the cloud and 47 % worry about contractors and partners , compared to 30 % and 36 % respectively in other verticals surveyed .
“ Financial organisations experience accidental data leakage more often than companies in other verticals : 32 % of them reported this type of security incident within the last 12 months , compared to the average of 25 %. This is a good reason for them to be concerned about users who might unintentionally expose sensitive information . To address this threat , organisations need to implement a zero-standing privilege approach in which elevated access rights are granted only when they are needed and only for as long as needed ,” said Dirk Schrader , VP of Security Research at Netwrix . “ Cloud misconfigurations are another common reason for accidental data leakage . Therefore , security teams must continually monitor the integrity of their cloud configurations , ideally with a dedicated solution that automates the process .” them to keep educating their personnel on this threat because attacks are becoming more sophisticated ,” added Schrader . “ To increase the likelihood of a user clicking a malicious link , attackers are crafting custom spear phishing messages that are directed at the person responsible for a certain task in the organisation and that appear to come from an authority figure . Regular staff training , along with continuous activity monitoring , will help reduce the risk of infiltration .” �
Security teams must continually monitor the integrity of their cloud configurations .
All sectors say phishing is the most common type of attack they experience . However , 91 % of financial institutions say they can spot phishing within minutes or hours , compared to 82 % of respondents in other verticals .
“ Even though financial organisations detect phishing quickly , it is still crucial for
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