"Financial Organizations More Prone to Accidental Data Leakage"

Netwrix has released additional findings from its global 2022 Cloud Security Report for the financial and banking sectors. Financial institutions are much more concerned about users who have legitimate access to their cloud infrastructure than other industries surveyed. In this sector, 44 percent believe their own IT staff is the greatest threat to cloud data security, while 47 percent are concerned about contractors and partners, compared to 30 percent and 36 percent in the other verticals polled. Phishing is the most common type of attack reported by all sectors. On the other hand, ninety-one percent of financial institutions say they can detect phishing within minutes or hours, compared to 82 percent of respondents in other verticals. Financial organizations are more likely than other industries to experience accidental data leakage, with 32 percent of them reporting this type of security incident in the last 12 months, compared to an average of 25 percent. This is a valid reason for them to be concerned about users who may inadvertently disclose sensitive information. To address this threat, organizations should adopt a zero-standing privilege approach in which elevated access rights are granted only when and for as long as they are required, according to Dirk Schrader, VP of security research at Netwrix. This article continues to discuss key findings from the 2022 Cloud Security Report. 

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