Compromised Cloud Accounts Cost $6.2 Million For Companies On Average

Microsoft 365 and Google Workspace accounts are the heavier targets for phishing attacks or brute force

With the remote workforce taking a surge after COVID, businesses have totally relied on cloud-based applications for smooth functioning. But never did they anticipate that it would make them $6.2 million on an average in the form of compromised cloud accounts. David Jones writes about the increasing intensity of such attacks in CIO Dive.

Here is what he has written:

  • Organizations experience 138 hours of application downtime per year due to compromised cloud accounts.

  •  Large numbers of Microsoft 365 or Google Workspace accounts are compromised via brute force or phishing because of not turning on multi-factor authentication.

  • Workers were also bringing unapproved shadow apps into the corporate environment, creating additional risk.

  • Shadow IT can put your sensitive data at risk, so companies should embrace a cloud-based security broker to protect data further.

What We Think

In the age of exponential cloud growth, we’re strong advocates of following the Zero Trust Policy to prevent unapproved users and apps from gaining access to the organization’s IT ecosystem. IT leaders shouldn’t hesitate to invest in infrastructure that would allow them to carry out this framework.

You can read the full article here.