3 in 5 Singapore-based firms lost of sensitive data

Three in every five (62%) of organisations surveyed in Singapore suffered a loss of sensitive data over the last year, Rubrik research shows.

Finding also revealed that Singapore only came in second to India as the country with the highest percentage of organisations experiencing sensitive data loss events globally over the last 12 months. 

Rubrik commissioned Wakefield Research for a study that covered more than 1,600 IT and security decision-makers at companies of 500 or more employees in the United States, the United Kingdom, France, Germany, Italy, Netherlands, Japan, Australia, Singapore, and India. 

Data was gathered between June 30, 2023 and July 11, 2023, including information from 120 organisations in Singapore.

The survey supplemented Rubrik telemetry, looking at more than 5,000 clients across 22 industries and 67 countries. The data includes over 35 exabytes of logical storage secured and more than 24 billion sensitive data records from January 2022 through July 2023.

Results show that data growth is surging globally, and shows no signs of slowing down. A typical organisation’s data has grown 42% over the last 18 months, with SaaS data driving the most growth overall (145%) followed by cloud (73%) and on-premises (20%).

On average, a typical organisation’s data volume totals 240 backend terabytes (BETB). Rubrik Zero Labs predicts that the total volume of data a typical organisation needs to secure will increase by almost 100 BETB in the next year — and by seven times in the next five years.

Organisations in Singapore struggle to protect sensitive data amid growth, with 43% storing sensitive data in multiple locations across cloud, on-premises, and SaaS environments. Only, 7% reported a dedicated, sensitive data storage location.

Over half (62%) of external organisations surveyed experienced a material loss of sensitive information in the last year, with about one out of every four organisations (23%) experiencing multiple losses.

The most widely-reported data types compromised included corporate financial data (40%), payment card data (35%) and both authentication credentials and intellectual property (34%).

Further, data policies need to be improved to meet growing data security needs, as 86% of IT and security leaders surveyed believe their organisation’s current data growth is outpacing their ability to secure this data and manage risk.

Almost all (98%) external organisations surveyed believe they currently have significant data visibility challenges.

Seven in every 10 (70%) of respondents suspect people inside their organisation are accessing data in violation of data policies.

Less than half (47%) of external organisations surveyed have an appointed single senior executive responsible for data and its security.

Abhilash Purushothaman, Rubrik VP and general manager in Asia, said that organisations must maintain a sharp focus on protecting their data assets and infrastructure while embracing innovative approaches for achieving cyber resilience and ensuring business continuity.