New insights from the 2020 Thales Europe Data Threat Report reveal that European organisations have a false sense of security when it comes to protecting themselves, with only two-thirds (68%) seeing themselves as vulnerable, down from nine in ten (86%) in 2018.
This confidence flies in the face of the findings of the survey of 509 European executives which reveals over half (52%) of organisations were breached or failed a compliance audit in 2019, raising concerns as to why a fifth (20%) intend to reduce data security spend in the next year. The findings come as workers across Europe are working from home due to COVID-19, often using personal devices which don’t have the built-in security office systems do, significantly increasing risk to sensitive data.
Despite the multitude of threats, businesses feel that the complexity (40%) of their environments is holding their data security capabilities back. Multi-cloud adoption is the main driver of this complexity; four-fifths of businesses are using more than one IaaS vendor, whilst a third have more than 50 SaaS applications to manage. Businesses also identified a lack of budget (30%), staff to manage (28%) and organisation buy-in/low priority (25%) as other top blockers.