Thales' new survey has shown that cybersecurity in New Zealand is still lacking. 43% of respondents to the study had dealt with at least one breach of cloud security within the past year.

As part of S&P Global Market Intelligence's 2021 Thales Global Cloud Security Study, it was revealed that only 26% New Zealand businesses have encrypted all sensitive data stored in the cloud. The study also revealed that 51% of organizations give up control of all or most of their encryption keys to third-party service providers rather than maintaining full control.

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75% of New Zealand's business leaders said that their company doesn't have a Zero Trust strategy. 28% of respondents stated they weren’t actively looking into one.

Survey results showed that 75% of businesses lack adequate cloud data protection. Thales ANZ director Brian Grant stated that the 'increased complexity of the digital world' is making it difficult for them to manage. He stressed the importance of strong cybersecurity and data protection strategies, especially for financial services and insurance, which have large amounts of customer information.

Grant stated that organizations in Australia and New Zealand are experiencing difficulties with the increasing complexity of cloud-based solutions adoption.

It's not 'if' that a cyber-attack occurs, but 'when'. It is crucial to have a solid security strategy in place to ensure data and business operations are protected. Nearly every business is dependent on the cloud in some way. Security teams must be able to find, protect and maintain control over their data.

Globally, 57% of respondents used two or more large cloud providers. Nearly half of the respondents (46%) agreed that cloud privacy and data protection is difficult and that only 17% of them encrypt more sensitive data than 50%.

This was only marginally higher than the average for financial services, with 21% saying that they encrypt over half their sensitive data. However, this still leaves a large data protection gap.

Brian Grant stated that effective data protection strategies must be able to close the gap between when a customer provides their information and when it is secured.

He stated that external threats will only increase as more businesses go digital. Therefore, it is crucial to have a cybersecurity strategy that protects sensitive customer information from being stolen.

Grant stated, "We keep trying and secure people, but the reality is we probably never will achieve that - that is just the nature of the way it is."

"But, if organizations do get compromised they must think about how they will prevent that from damaging people’s privacy and damaging the organisations using that information." Security must be embedded into processes and systems within the organization.

He explained that if you visit an insurance company's site and enter personal information (whether that's information about a claim or an application for a plan, or whatever it may be), it's less likely than if it was collected first and then proceed to secure it."

"The period between customer entering data and insurer actually storing it, is where data is most at-risk."

Grant stated, "You cannot control whether someone is trying hack you or make money from you in a digital way, but you can manage your risk management."

"An attacker can look at your house and see that it is well secured with alarms or locks and then move on to the next one. If everyone does the same, we'll have fewer break-ins.