The Impact of Corporate Data Loss from Mobile Devices

By: Arieanna Schweber | 10/13/2016

Companies are haemorrhaging data from the endpoint, and there is no single, clear cause behind this steady flow. Some reports have pointed fingers at the growing use of cloud applications. This growth is propelled by expanding integration of enterprise mobility and exacerbated by a severe lack of control over cloud apps. According to a new survey by NetEnrich, Corporate IT Hounded by Mobile Security Concerns, 42% of IT pros said their organizations suffered key corporate data loss from a mobile device. These breached losses were due to factors like malware, the insecurity of public cloud services, cut and pasted data, insecure operating systems and undetected advanced persistent threats.

Monetary Losses After Mobile Security Breaches

The report further reveals that 41% of organizations have lost $50,000 to $100,000 over the past three years directly due to a mobile device security breach or attack. Given what we know about mobile device security, these detected breaches likely represent only a fraction of the breaches truly caused by endpoint devices. By connecting dots between the endpoint and eventual breaches of network-held corporate data, a PwC report suggested that exploited mobile devices actually account for one-third of all cyber security incidents.

Absolute is helping confront the dangers of data hiding on the endpoint and in the cloud. We can do this thanks to the release of a new capability to detect data at risk on endpoints associated with cloud storage applications. Using Absolute Endpoint Data Discovery (EDD), which comes as part of Absolute Data & Device Security (DDS), you can now determine which cloud applications are being used and whether sensitive data is being stored within those applications.

In addition, existing capabilities on Absolute DDS can be used to detect and remotely wipe sensitive data being stored on the device itself. With automated features to detect anomalous user or device activity, you can help protect data stored on the endpoint, in the cloud, or on the network.  Endpoint devices have become an overlooked “entry point” placing data at risk, but now you can take action. Get started with your free evaluation version of Absolute DDS today.

Financial Services