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Fifty-one percent of organizations in Asia Pacific have experienced a cyberattack originating from a digital asset they didn’t know about or didn’t manage, according to a new study by MIT Technology Review Insights, in association with Palo Alto Networks.
The report highlights include:
- More attacks are expected: 51 percent of respondents have experienced a cyberattack originating from a digital asset they didn’t know about or didn’t manage, and 16 percent expect such an attack eventually. Unique challenges such as varied cyber maturity across the region and being unprepared to pivot to remote work during the pandemic have heightened the urgency to establish cybersecurity strategies.
- Securing cloud assets is a priority: 43 percent of respondents report that more than half of their digital assets are in the cloud. Well-funded and well-organized hackers and the fast-evolving nature of technology are forcing organizations to consider multiple ways to secure their cloud environments and monitor digital assets.
- Executives are paying attention to cybersecurity: Organizations also can mitigate risks by adding cybersecurity to the C-suite agenda. As it stands, 68 percent of respondents say their organization’s board of directors will request an attack surface management plan for cybersecurity this year.
“Our research shows that 70 percent of companies report a secure cloud management strategy is key to avoiding cybersecurity attacks. And 67 percent of respondents realize that continuous asset monitoring is the cornerstone of that strategy,” said Laurel Ruma, Editorial Director, MIT Technology Review Insights.
As companies continue to accelerate their digital transformation strategies, more and more of their operations are being moved to cloud environments. Cloud-based assets comprise most cybersecurity exposures. According to Palo Alto Networks research, 79 percent of observed issues come from the cloud.
“This data makes all too clear the reality of unknown or unmanaged assets: they are a major security risk, and the only way to protect yourself is to have a complete and up-to-date inventory of all internet-facing assets,” said Tim Junio, Senior Vice President, Cortex Division, Palo Alto Networks.
Companies urgently need to formulate strategies to mitigate cyber-related vulnerabilities.
- Gain control over “shadow IT”: “Shadow IT,” which is rogue purchases of cloud services and instalments of IoT-type connected devices, opens the doors for bad actors. Smart locks and other types of mobile access applications for employees can allow hackers to gain access to corporate networks.
- Monitor inventory: 46 percent of respondents conduct inventories to discover unknown or un-prioritized digital assets. Still, 31 percent report taking such action just once per month or less frequently.
- Develop talent: Competitive salaries, stimulating projects, and opportunities for up-skilling can help organizations attract and retain top talent. Even employees without extensive cybersecurity skills can mitigate security risks by increasing their understanding of the threat landscape.
- Consult the experts: Outsourcing cybersecurity allows organizations to tap into a reservoir of skills and experience they wouldn’t otherwise have. Only 29 percent of Asia-Pacific organizations turn to outside experts.
