Cloud Computing: Are Most Businesses Ignoring Security Weaknesses?

Grazed from TalkinCloud. Author: Dan Kobialka.

A new report from Chicago-based cloud services provider (CSP) Trustwave shows that most businesses are fully aware of their legal responsibilities in protecting sensitive data. Trustwave researchers, however, also pointed out that few businesses host security awareness tutorials and security planning meetings to keep their employees up to date about ongoing IT security issues.

Trustwave’s "2014 State of Risk Report," released this month, revealed that 60 percent of businesses said they understand their legal responsibilities in safeguarding sensitive information, but 21 percent said they never perform security awareness training. Also, 23 percent said they never hold security planning meetings, and 24 percent noted they do not have employees read and sign their businesses’ information security policies…

Other report results included:

• 81 percent of businesses said they store and process financial data, 71 percent store intellectual property and 47 percent store payment card data.
• 45 percent said they have board- or senior-level managers who take only a partial role in security matters, and 9 percent do not partake at all.
• 33 percent said they have not completed a risk assessment to identify where their valuable data lives and what controls — if any — are in place to protect it…

Read more from the source @ http://talkincloud.com/cloud-computing-security/12232014/are-most-businesses-ignoring-security-weaknesses