Transforming cyber security – Challenging Industrial Productivity
Manufacturing has overtaken financial services as the sector combatting the largest volume of cyber attacks, with over a quarter of total hacks targeting manufacturing companies.
The attacks range from large- and small-scale data breaches, to denying companies access to their own systems and even long-term damage to production.
But why has industry become such a focus for hackers?
Well, in part, it’s due to organisations’ low tolerance for downtime. Ransomware attackers are capitalising on the fact that the sector faces pressure on numerous fronts. The last thing businesses need when facing material shortages, tight margins and increasingly fast delivery times is a cyber attack. Hackers are well aware of this and are preying on the fact that many businesses, when caught short, will simply pay for the attack to go away.
Coupled with economic pressures limiting the availability of cash, the increasing cost of ransomware attacks has made them a significant financial risk for manufacturers.
While the statistics on the growth of cyber attacks on industry makes for some grim reading, there are silver linings. The significant uptick in the number of attacks has meant many manufacturers are now accelerating projects that are designed to keep data and processes safe, with the added benefit that many of these also help to digitalise, connect and modernise processes.
Read the report on UK cyber security and digital transformation to learn more.