New Ponemon Institute Study Reveals Cloud Account Compromises Cost Organizations Over $6 Million Annually

Over two-thirds of surveyed IT professionals believe cloud account takeovers are a significant risk to their organizations

SUNNYVALE, Calif., May 25, 2021 (GLOBE NEWSWIRE) — Proofpoint, Inc. (NASDAQ: PFPT), a leading cybersecurity and compliance company, and Ponemon Institute, a top IT security research organization, today released the results of a new study on “The Cost of Cloud Compromise and Shadow IT.” The average cost of cloud account compromises reached $6.2 million over a 12-month period, according to over 600 IT and IT security professionals in the U.S. In addition, 68 percent of these survey respondents believe cloud account takeovers present a significant security risk to their organizations, with more than half indicating the frequency and severity of cloud account compromises has increased over the last 12 months.