Cyber crime against manufacturing companies

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Every year is a new record year for cybercrime. This nefarious industry has been growing non-stop for over a decade and now is among the most profitable activities globally. What’s the picture if we’re discussing specifically cybercrime against manufacturing companies? It doesn’t seem to be getting any better and understanding why this is happening is vital in reversing this scenario.

Companies today rely on technology more than ever. We use it for our daily activities, communications, payments, and our most complex projects and operations. If you think about it, even tasks such as procuring, taking orders and communicating with suppliers, partners, and vendors rely on technology and connectivity. Still, most companies in the manufacturing industry act as if tech is just an extra cost to their business and tend to be hesitant when investing in their own security.

Read: ICT Health Assessment – prioritise threats to your business

What you need to know about Cyber crime against Manufacturing companies

Costly Downtime:

Manufacturing businesses must be efficient, and the production flow can’t stop. We know this, and criminals do too. The cost of a delay in production could be catastrophic and spiral into lost deals, customers and business relationships.

Cyber criminals take advantage of this by locking businesses out of their machines, using a malicious software known as ransomware. Once they breach into your network, they begin encrypting your files and spreading through devices, even infecting backups that are connected to the network. Then everybody is locked out, and the only way to access your files and equipment is to pay a ransom. Cloud storage works by storing data on remote servers, where it can be maintained, managed, backed and accessed remotely. Data stored in the cloud is accessible by any device at any time, despite this, data stored via the cloud is extremely safe and secure.

The last thing you want during a disaster recovery process is to find out that your backups have been failing for a long time. By monitoring, testing and ensuring you have the right backup solution for your backups, you can overcome this issue and rely on your backups at the time of need.

Make sure you invest in the right backup solution with us to ensure full recoverability of your valuable data.

Low Cybersecurity Maturity:

The first reason why cyber crime against manufacturing companies is increasingly common is the low cybersecurity maturity of most companies in this industry. As mentioned before, there’s a belief from some businesses in this space that cybercrime can’t hurt them. They think that because most of their staff is not sitting directly in front of a computer, they are less susceptible to a cyberattack.

Unfortunately, that is not true, and because of that belief, business owners decide not to invest enough in cybersecurity and leave several vulnerabilities exposed. Cyber criminals are taking advantage of that since they can quickly get in and take whatever they want with little effort.

Lower defences and lack of awareness about cyber threats mean that an attack of any kind is much more likely to succeed, and the damage potential is much higher. For that same reason, small and medium companies in several verticals are being targeted.

Reliance on Multiple Suppliers:

Another aspect that criminals often try to explore when targeting businesses in this space is the relationship with suppliers. You’re probably constantly dealing with external suppliers, which makes the entire network of relationships a potential target. A criminal might be able to infiltrate your business through a breach in your suppliers’ defence, or they could use your vulnerabilities to go after your suppliers.

Read: Refresh Your IT Infrastructure In 2022 | SybaWeb

You are already using technology to conduct all sorts of activities in your business. Now that you know of potential risks, you have the choice to act upon them or to allow your vulnerabilities to come bite you later.

Contact us today (Contact Us | SybaWeb) to work with our specialists. We’ll seek to understand your concerns, identify your vulnerabilities and propose solutions to improve your security.

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