Technology

86 Percent of Nigerian Companies Experience Cloud Incident in 2019

86 Percent of Nigerian Firms Suffer Cloud Incident in 2019

A new report has shown that 86 percent of Nigerian companies fell victim to cybercrime in 2019.

In the report titled ‘The State of Cloud Security 2020’ and put together by Sophos, a cyber-security firm, 43 percent of the security incident were malware-related attacks while 34 percent were ransomware.

Accordingly, exposed data were put at 57 percent, compromised accounts at 46 percent and cryptojacking at 26 percent.

Globally, the report said organisation running multi-cloud environments have more than 50 percent chance of suffering a cloud security incident than those running a single cloud.

However, organisation in Euro-area suffered the lowest percentage of security-related incidents in the cloud, suggesting that high compliance levels with General Data Protection Regulation (GDPR) helped limit cloud-related incidents in the region.

Speaking on the report, Chester Wisniewski, a Principal Research Scientist, Sophos, said: “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.

“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 organisations still don’t understand their responsibility in securing cloud data and workloads. Cloud security is a shared responsibility, and organisations need to carefully manage and monitor cloud environments in order to stay one step ahead of determined attackers.”

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Discordant Tunes Greet 50% Tariff Hike As Subscribers Threaten To Sue NCC

Nigerians have expressed displeasure over the decision of the Nigerian Communications Commission to increase tariffs…

9 hours ago

Beatrice Ekweremadu Returns to Nigeria After Serving Sentence in UK

Mrs. Beatrice Ekweremadu, wife of former Deputy Senate President Senator Ike Ekweremadu, has reportedly returned…

9 hours ago

Nigeria Expands Refining Capacity with MRO Energy’s Delta State Refinery

The Federal Government has taken another step toward boosting Nigeria’s refining capacity with the approval…

9 hours ago

Eko DisCo Set for Transformation as Transgrid Enerco Signs Historic 60% Acquisition Agreement

Transgrid Enerco Limited has signed a Share Purchase Agreement (SPA) to acquire a 60% equity…

10 hours ago

Metering Gap Exceeds 7 Million Despite Multilateral Loans and Government Funds

Despite interventions by the Federal Government and multilateral lenders amounting to over N1.5 trillion, Nigeria’s…

11 hours ago

Petrol Prices Surge to N990 in Abuja, N960 in Lagos as Oil Tops $80 Per Barrel

The Nigerian National Petroleum Company Limited (NNPC) has increased the pump price of petrol at…

12 hours ago