While the world is becoming increasingly interconnected and digitised, globalised economies rely on robust and resilient supply chains. However, this digitisation exposes businesses to risks as they must navigate complex and sophisticated supply networks. This leaves the door open for supply chains to be a prime target for cyber criminals seeking to exploit the industry’s vulnerabilities and capitalise on this digital transformation.
Cyber threats on the rise
As the number of cyber attacks continues to increase each year, it’s paramount to deploy and enforce cybersecurity measures in global supply chains. Hackers’ methods constantly evolve, ranging from data breaches and stolen security certificates to malware and ransomware attacks, targeting manufacturers, suppliers, and third-party providers. Just look at the average cost per data breach globally, which amounted to a staggering 4.45 million dollars last year.
Adding to the urgency of this issue, Resilinc – the global leader in supply chain mapping, risk monitoring, and resiliency analytics – reported a 36% surge in cyber attacks in 2023 compared to 2022. Over 12 months, Resilinc’s 24/7 risk monitoring platform, EventWatchAI, identified 703 potentially disruptive cyber attacks worldwide across all tracked industries. Of the alerts, more than 57% triggered a WarRoom – meaning that there was a confirmed impact on the supply chain.
