As an industry, manufacturing is severely underprepared for attacks. Over 60% of UK organisations in manufacturing have been the target of a cyber-attack. That does not include organizations who are unaware of their threats, or those who do not report a breach. And over a third of those have been affected financially.
Supply Chain Attack
By targeting the unsecure elements within a supply chain, cyber criminals can infiltrate and attack a business, and cause untold damage. This can happen in any industry, but once inside a manufacturing business, intellectual property can then be accessed, and then ransomware can ensue.
IoT
One of the greatest challenges for Telco’s and Internet Service Providers (ISPs) in the current climate, is how the Internet of Things (IoT) will impact the industry. IoT has skyrocketed in terms of its application with connected devices, creating more unsecure entry points in the process.
Intellectual Property (IP) Theft
Intellectual property is one of the most valuable assets of the industry. Everything from product launches, chemical formulas, trade secrets, company contacts, to sales and marketing strategies, this information is the power behind a business, and it is valuable to bad actors.
Effective security always comes down to three key elements. Processes, people and technology.
Processes must run seamlessly alongside the organisation. Security experts must have the capability to detect, react and understand the context of a risk. And the technology must be superior, to keep up with cyber threats. All elements are equally as important, and you must have all three to ensure security.
Over 59% of manufacturing companies have been asked by their customers to validate their security practices. Do your customers trust you with their data?
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