Storage and Backup Security in Financial Services

This technical report presents an extensive study on the security of storage and backup systems within the financial services sector. Conducted by CISO MAG and Continuity, the survey involved 200 firms across 45 countries and aimed to assess the maturity of market practices regarding storage and backup security. The findings indicate that a significant number of organizations recognize the potential catastrophic impact of attacks on their storage environments, yet many lack established security baselines. The report details that over half of the respondents do not have well-defined security measures in place, and only 42% perform automated, frequent validation of their systems. Additionally, the report highlights the disconnect between confidence levels in storage security and actual recovery capabilities from ransomware attacks, revealing that a majority of respondents express low confidence in their ability to recover data. The report outlines various aspects of vulnerability management and emphasizes the critical need for improved focus on storage and backup security within organizations.