Why You Need to Safeguard Your Supply Network from Cyber Risk
No matter how good your cybersecurity is, any device connected to the internet is a potential target of a cyberattack. Threat actors try to sneak into your digital systems and steal sensitive data such as bank account details or confidential company information. Millions of cyberattacks are launched against enterprises every day. And the threat continues to grow.
Unfortunately, supply networks are also increasingly vulnerable to cyberattacks. Why? Large entities may have fortified their infrastructure against attacks, yet in many cases, transparency and verification of business partners is lacking. That makes supply chains particularly attractive for potential attackers, who identify the organization within the supply chain with the weakest cybersecurity. In addition, digital transformation in supply chain management and procurement provide more opportunities for infiltration, and interconnected processes and operations offer an increasingly broad attack surface.
A recent Carbon Black report states that 50% of today’s cyberattacks use island-hopping – which is trying to infiltrate a company’s system through a partner network. Businesses are vulnerable when they:
- do not have resources to protect their networks,
- do not know how to manage the effort of reporting cyber risk to stakeholders,
- simply put a low priority on cybersecurity.
Are such companies in your supply base? When enterprises do not have full visibility into the sub-tiers of their supply network, they put themselves at risk.