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.”