Gables Assurance Group

Cyberattacks Seek Industrial Targets

The malicious actors behind recent cyberattacks are increasingly targeting industrial companies, rather than individual users, according to a recent Kapersky Lab analysis.

The Kapersky Lab analysis shows supply chains will be increasingly threatened by cyber risk, as its logistics partners, suppliers and internal operations are threatened by malicious attacks. In fact, if the data suggests a trend, the recent cyberattack is unlikely to be the last roiling global logistics.

Such a pivot presents an increased threat to companies as a hack can affect not just systems and operations, but also human safety.  An analysis of the most recent attack shows at least 50% of the companies attacked last week were either manufacturing or oil and gas companies (which includes A.P. Moller-Maersk for its energy division).

 A look at the disruptions to A.P. Moller-Maersk shows how dependent global trade is on information systems. At the TOC Europe conference, Lars Jensen of cybersecurity firm CyberKeel told attendees he calculated the shipping line would suffer $2.7 million every hour its booking system was shut down. Even aside from lost revenue, which could amount to more than $60 million dollars, the disruption to Maersk also affects other lines with boxes on Maersk vessels, which remain unloaded as the Danish shipper seeks to right itself.

To date, Maersk continues its path to recovery and has only fully reopened 6(of 17) terminals that were affected by the June 27 cyberattack, JOC.com reports. However, associated terminals and truck drivers are also being impacted by the fallout of the attack, according to the Miami Herald.

Ultimately, Jensen hopes the attack serves as an object lesson for the industry, which he believes is woefully unprepared and has an inherent digital weakness. Building resilience into digital products must occur at the time of construction to be truly effective. Though costly, the method of building in security from the ground up has proven more reliable, according to Jensen.

In the meantime, supply chain managers can add cyberattacks to their growing list of risks capable of disrupting operations.

 

Source: SupplyChainDIVE

42 thoughts on “Cyberattacks Seek Industrial Targets”

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