Manufacturers across the country have become a main target for cybercriminals. The news, trade journals, and professional organizations such as the Michigan Manufacturers Association all have stressed the importance of manufacturers becoming aware of this growing threat.
- IBM released a study in 2016 titled, X-Force Research 2016 Cyber Security Intelligence Index, which found that the manufacturing sector was second only to healthcare as the most attacked industry in the country.
- The most recent Carbon Black Threat Report places the manufacturing industry at the top of the target lists for ransomware and malware.
- According to the Ponemom Institute, the average price for a small business to clean up after they have been hacked stands at $690,000; for mid-market companies, it is more than $1 million.
The Carbon Black Threat Report states that when considering the total amount of ransomware seen in 2016, manufacturing companies (16% of total ransomware instances), utility/energy companies (15.4% of all ransomware instances) and technology companies (12.6% of all ransomware instances) led the way.
The Carbon Black Threat Report also states that overall, malware continues to target every industry with manufacturing companies (21.8% of total malware), non-profit organizations (16.4% of total malware), and utility/energy companies (15.6% of total malware) leading the way in 2016.
Percentage of Total Malware Seen by Industry in 2016
What should manufacturers do?
What can manufacturers do to protect their organizations? It starts with understanding the threats and risks that exist and how to defend against them. Cybersecurity protection has become a requirement for manufacturers who do business with several agencies and they must be compliant as soon as December 2017. If you are unsure of your organization’s cybersecurity needs or risks, it is important to partner with a technology firm that has expertise in this area.
Next Generation firewall, anti-virus and spam protection services – together with proactively monitoring and managing your network hardware, software, and data traffic – can effectively reduce the risk of a disastrous attack. But firewalls and the best security systems in the world cannot stop everything. Manufacturers should also consider implementing a security awareness training program, which has proven to improve many security flaws. By making employees the first line of defense, manufacturers have a cost-effective way to strengthen the security of their organization.
Call on the members of Yeo & Yeo’s Manufacturing Services Group, who can help you understand and protect your business with industry best practices and technology solutions.