Home News Loss of Critical Data and Customers a Top Concern for APAC Businesses

Loss of Critical Data and Customers a Top Concern for APAC Businesses

A report from Barracuda reveals the top security concerns of business leaders in the APAC region. Loss of data and customers tops the list of their worries in case of a successful cyberattack.

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By now we all know that cloud technology adoption has skyrocketed and is considered the future for security solutions. Carrying this notion further, Barracuda, a provider of cloud-enabled security solutions, conducted a survey to dive deeper into understanding the adoption trends for public cloud, network and application vulnerabilities, and a variety of related security concerns to cloud technology.

 Key Highlights 

  • 76% of APAC respondents said they were targeted by a cyberattack at least once, highlighting a serious security challenge in the region.
  • Businesses are spending an average of seven hours on preventing and managing cyberattacks in APAC – which is the highest in the world.
  • 26% of APAC respondents quoted that the application security provided by cloud infrastructure is insufficient.
  • Loss of data and customers are top concerns when it comes to a successful cyberattack in APAC.
  • APAC respondents understand the need to protect applications that can be accessed by external users (86%), involve e-commerce or PII (89%), or can be accessed via mobile devices (90%).

The  survey was conducted by independent market researcher Vanson Bourne and includes responses from IT decision-makers who are responsible for their organization’s cloud infrastructure.

The survey report titled, “Securing Your Apps in the Borderless Cloud,” highlights the rising security challenge and associated costs in the APAC region. Overall, a 20% increase in cyberattacks has been observed in all geographic regions since 2017. However, when it comes to APAC, 76% of respondents reported being targeted by a cyberattack at least once, with 44% of them saying they have been attacked between 2 to 5 times. But even more surprising is a group of 22% who are not aware whether they have fallen victim to cyberattacks at all. In general, on average, organizations spend between 1-2 days per week on preventing and managing cyberattacks. But time spent on this work is highest in APAC – where the average is seven hours.

Other Findings

A third of APAC participants do not feel they are fully protected in the cloud, and data loss is always playing at the back of their minds. Additionally, despite the growing confidence in the public cloud, 95% of APAC respondents have added (56%) or plan to add (39%) extra security measures to their public cloud deployments. Other than this, more than half of APAC respondents (53%) are worried about losing sensitive, mission-critical data. In addition to data loss, interrupted operations due to the temporary shutdown of mission-critical applications (54%) in day-to-day business, and lost customers (50%) are top security concerns to APAC businesses when it comes to a successful cyberattack.

Image Credit: Barracuda

Organizations have also realized the potential risks of application vulnerabilities and the subsequent need to protect applications. 26% of APAC businesses find application security provided by the cloud infrastructure providers as insufficient. They believe that there is a need to add protection for applications that can be accessed by external users (86%), involve e-commerce or PII (89%), or can be accessed via mobile devices (90%).

James Forbes-May, Sales Vice President at Barracuda APAC, said, “As applications are rapidly becoming the most exploited threat vector, these security concerns underscore the importance to safeguard data with confidence by eliminating application vulnerabilities and stopping data breaches. By deploying a strong and secure web application firewall (WAF), organizations can be reassured about public cloud security and take advantage of all the business benefits inherent in leveraging the cloud.”

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