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June 25, 2019, 8:31 a.m. EDT

Survey: Organizations Increase Risk with Over Reliance on Cloud Vendors for Security

CyberArk Report Shows 75 Percent of Organizations Rely Primarily on Cloud Providers to Protect Their Workloads

According to a new survey from CyberArk (NASDAQ: CYBR ), as global organizations increasingly move critical applications, regulated customer data and development work into public cloud environments, 36 percent say the number one benefit for moving workloads to the cloud is to offload security risk. This is despite many public cloud providers providing straightforward guidance on their shared responsibility models for security and compliance in cloud environments.

The results are part of the newly-released CyberArk Global Advanced Threat Landscape Report 2019: Focus on Cloud .

“The risks caused by a lack of clarity about who is responsible for security in the cloud is compounded by an overall failure by organizations to secure privileged access in these environments,” said Adam Bosnian, executive vice president, global business development, CyberArk. “Despite the often sensitive and highly regulated data being stored in the cloud, it was surprising to see that less than half of organizations don’t have a strategy in place for securing privileges in the cloud, a finding that remains unchanged since our last report.”

As organizations utilize the cloud to accelerate digital transformation, there must be greater awareness of where potential security risks exist:

  • 49 percent of respondents migrate business critical applications (i.e., ERP, CRM or financial management) into the public cloud

  • 45 percent store customer data subject to regulatory oversight in the public cloud.

  • 39 percent use the public cloud for internal development, including DevOps

  • 75 percent rely on the cloud provider’s built-in security, despite half (50 percent) of this number recognizing cloud providers’ built-in security is not sufficient

Privileged Access is the Greatest Cloud Security Concern

According to the survey, the greatest security concerns in public cloud usage are:

  • Insiders, partners and contractors with privileged access (46 percent)

  • Unauthorized access to cloud management consoles (46 percent)

  • Shared credentials across compute, storage or application instances (44 percent)

The problem becomes critical when unsecured and unmanaged credentials provide privileged access, which can enable attackers to escalate privileges and gain elevated access within cloud infrastructure. According to the survey:

  • A majority of organizations (62 percent) are unaware that credentials, secrets and privileged accounts exist in IaaS and PaaS environments

  • Only 49 percent currently have a privileged access security strategy in place for cloud infrastructure and workloads

The findings are part of an early look at the CyberArk Global Advanced Threat Landscape Report 2019. To download a copy of the report focused on the current state of cloud security, please visit: http://www.cyberark.com/TL19cloud

About CyberArk

CyberArk (NASDAQ: CYBR ) is the global leader in privileged access security, a critical layer of IT security to protect data, infrastructure and assets across the enterprise, in the cloud and throughout the DevOps pipeline. CyberArk delivers the industry’s most complete solution to reduce risk created by privileged credentials and secrets. The company is trusted by the world’s leading organizations, including more than 50 percent of the Fortune 500, to protect against external attackers and malicious insiders. A global company, CyberArk is headquartered in Petach Tikva, Israel, with U.S. headquarters located in Newton, Mass. The company also has offices throughout the Americas, EMEA, Asia Pacific and Japan. To learn more about CyberArk, visit www.cyberark.com , read the CyberArk blogs or follow on Twitter via @CyberArk , LinkedIn or Facebook .

Copyright © 2019 CyberArk Software. All Rights Reserved. All other brand names, product names, or trademarks belong to their respective holders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190625005274/en/

SOURCE: CyberArk

Media Relations Contacts:
Brian Merrill, fama PR
Phone: +1-617-986-5005
Email: cyberark@famapr.com Liz Campbell, CyberArk
Phone: +1-617-558-2191
Email: press@cyberark.com Investor Relations Contact:
Erica Smith, CyberArk
Phone: +1 617-630-6426
Email: ir@cyberark.com

Copyright Business Wire 2019

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