A new report published by manufacturers’ organisation EEF in partnership with insurance firm AIG and the Royal United Services Institute (RUSI) shows that 48% of UK manufacturers have been subject to a cyber-security incident at some time.
Loss and Disruption
Half of those manufacturing companies who admit to being hit by cyber-criminals have said that the incident(s) caused financial loss or disruption to business.
The report highlighted several key challenges that the manufacturing industry faces in making itself less vulnerable to cyber-criminals. These challenges include:
What Does This Mean For Your Business?
For manufacturing businesses facing the very real threat of sophisticated, multi-level attacks, now is not the time to be left with a vulnerable outdated system. Advice from the report includes following the advice of the Government backed ‘Cyber Essentials’ scheme. This includes the 5 security essentials of using a firewall to secure your Internet connection, choosing the most secure settings for your devices and software, controlling who has access to your data and services, protecting yourself from viruses and other malware by using antivirus software, only downloading apps from manufacturer-approved stores, or running apps and programs in an isolated environment, and continually ensuring that operating systems and software are up-to-date and running the latest security patches.
Clearly, manufacturing companies with old systems may need to bite the bullet and invest in more modern, digitised, and well-protected systems. The report also indicates that greater investment in staff training is needed to help them spot and deal with risks, and to avoid the kind of human error that is needed in many modern cyber-attacks e.g. malware / viruses sent by email, phishing, and other social engineering attacks.
Another opportunity for manufacturing companies to boost cyber-security could also come from cyber-insurance. For example, many cyber insurers offer a comprehensive package of pre-loss services to businesses to carry out a cyber health check which could help to highlight gaps in cyber risk management and help identify what security measures should be prioritised.