A Growing Security Concern for Companies Moving to Cloud

【Industry Insight】A Growing Security Concern for Companies Moving to Cloud

In the face of the COVID-19 pandemic, more businesses have leveraged the cloud to shift their operations online.

Use of cloud-based, collaboration-focused business apps has increased by almost 500% since January 2020;^[i] Microsoft Teams reported millions of new users as the pandemic hit, with 75 million added in April.^[ii] Overall expenditures for cloud computing are seen to rise by 19% for 2020 despite IT spending falling by 8%.^[iii]

These new ways of working also bring new threats.

A doubling of technology-based crimes in Hong Kong over the first half of 2020 have led to HK$1.52 billion (US$196 million) in losses.^[iv] A majority of employees feel compelled to use insecure home devices and networks for work purposes anyway, despite admitting that their “devices were not fully secure against advanced cyber risks”.^[v]

Worker safety and data security need not be mutually exclusive. On one hand, the “new normal” calls for employees to be trained in essential security habits.^[vi]

On the other, companies must also invest in mobile solutions offering high security standards: multifunction printers that meet strict ISO 15408 Common Criteria for Information Technology; EDMS solutions that encrypt documents with up to 256-bit password security; and cloud-based document capture platforms with multi-layered security controls and active threat intelligence.^[vii]

Even as circumstances call for moving more of your operations online, there’s no need to compromise your company’s security in the process.