Cloud Could Triple Odds of $20M Data Breach

The news is not good: increased use of the cloud can triple a companyEUs chances of incurring a $20 million data breach. ThatEUs according to research released on Wednesday by Ponemon Institute and cloud security firm Netskope.

The results of the study, EUData Breach: The Cloud Multiplier Effect,EU indicate that IT and security professionals expect that moving their apps to the cloud will increase the potential that their companies will be hit by data breaches. And that means theyEUll be on the hook for millions to clean up the mess.

Ponemon asked the 613 IT and security pros it surveyed in March to estimate the likelihood of a data breach involving 100,000 or more customer records at their organizations under current circumstances and how using more cloud services would change that probability. According to the report, an increased use of cloud services would triple the odds of a data breach.

Cost of a Data Breach

This report draws from Ponemon InstituteEUs May 2014 EUCost of a Data BreachEU study that established a cost of $201.18 per lost or stolen customer record. So for a data breach involving 100,000 or more customer records the cost would be just over $20 million.

EUImagine then if the probability of that data breach were to triple simply because you increased your use of the cloud. ThatEUs what enterprise IT folks are coming to grips with and theyEUve started to recognize the need to align their security programs to account for it,EU said Sanjay Beri, CEO and founder of Netskope.

Beri said that while there are many enterprise-ready apps available today, IT and security practictioners are worried about the damage from risky apps. EURewriting this story requires contextual knowledge about how these apps are being used and an effective way of mitigating risk,EU he added.

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