Intelligent CISO Issue 01 | Page 55

Companies increasingly turning to cloud for improved security

Dragan Petkovic , Security Product Leader , ECEMEA Oracle
Data breaches that result in confidential data being compromised , whether it is just released to the general public or used for malicious purposes , have become almost a daily occurrence . Dragan Petkovic , Security Product Leader , ECEMEA Oracle , says that makes cybersecurity nonnegotiable for organisations .
ccording to a report from The

A

Economist Intelligence Unit and Oracle , organisations have witnessed a 42 % increase in hacking , a 39 % growth in malware and a 23 % rise in financial theft over the past two years . Globally , cybercrime is expected to reach US $ 2 trillion by 2019 .
The increasing complexity of emerging technologies and advances in hacking practices mean that enterprises and their legacy networks – often built with kit bought from multiple vendors at the cheapest price at auction , by a procurement team over the years – may no longer be safe . Of top concern is infrastructure downtime , security threats and vulnerabilities and data protection .
Companies are responding through several ways , including hiring CEOs who
come from the cybersecurity space , as they know how to manage risk and speeding up their migration to the cloud , with mature users understanding that cloud computing provides better security than poorly deployed or legacy licence ( on-premise ) systems .
Ensuring regulatory compliance
Apart from protecting themselves from external threats , companies around the world are increasingly being required to comply with data privacy regulations , such as the Protection of Personal Information Act ( PoPI ) in South Africa .
The PoPI Act states that organisations must take appropriate measures to protect personal information against unlawful access or processing , as well as loss , damage , or unauthorised
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