Netwrix has announced additional findings for the financial and banking sector from its global 2022 Cloud Data Security Report.
Compared to other industries surveyed, financial institutions are much more concerned about users who have legitimate access to their cloud infrastructure. Just under half (44%) of respondents say their own IT staff poses the biggest risk to data security in the cloud, while 47% worry about contractors and partners. This is 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%,” said Dirk Schrader, VP of Security Research at Netwrix. “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.
“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.”