The 1970s have been a turning point for modern industries and businesses bringing the digital world to companies around the globe. In tandem, cyber threats have risen gradually, picking up pace with the fourth industrial revolution in the mid-2010s.
Since 2021, cyber-attacks targeting supply chains have surged by 431%, indicating a growing vulnerability in international and globally connected business ecosystems, as Cowbell’s Cyber Roundup Report 2024 has shown. These attacks have become routine over the past years. The manufacturing sector is particularly at risk, with cyber risk scores 11.7% below the global average, due to its reliance on automation and sensitive intellectual property.
The OpenText Cybersecurity 2024 Global Ransomware Survey additionally highlights growing cyber threats in supply chains, with nearly half of businesses hit by ransomware and phishing attacks, which are on the rise due to AI. Over 60% report ransomware coming from supply chain partners. This is pushing companies to improve IT security practices. Investments in cloud security and regular employee training are becoming essential to counter these risks. Securing supply chains in 2024 demands stronger defenses and proactive strategies.
*SMBs = Small and Medium-sized Businesses; Source: OpenText
Fragmented Systems Increase Risks
Many companies rely on fragmented technology systems, creating vulnerabilities. A recent survey from Reuters and CargoWise of over 450 global supply chain professionals revealed that 55% use a mix of local and global IT solutions. This approach often results in operational inefficiencies, integration challenges, and reduced productivity, with 64% of logistics leaders citing these issues.
This fragmentation creates multiple weak points for cyber criminals, exposing critical supply chain operations to increased risks.
Experts Recommend Proactive Cyber Security Measures
Cyber security experts recommend companies to take protective steps, starting with annual risk assessments and employee training programs. Unified technology platforms can address the mentioned weaknesses by streamlining operations, improving data flow, and strengthening cyber security measures.
Investments in cloud security are also recommended, as AI can play a positive role by monitoring systems and detecting suspicious patterns that could indicate an imminent cyber-attack. Furthermore, increased checking of supply chain providers, along with the application of industrial cyber security standards, are expected to become standard procedures to ensure compliance and enhance overall security.
As companies navigate disruptions like geopolitical tensions and cyber-attacks, investing in centralized systems will be critical for building resilient and efficient supply chains.
Cyber Security at Leschaco
Cyber security is of utmost importance to us at Leschaco, as shown in our precautions, which include regular courses and tests on cyber security to enable all employees to spot possible threats. This essentially makes every employee an expert in cyber security.
Our Information Security Management System (ISMS) complies with ISO 27001, ensuring that all technical systems adhere to the latest and most advanced security standards. To further enhance our cyber defenses, we conduct weekly Vulnerability Scans as well as regular Penetration Tests (Pentests).
We are member of the "Alliance for Cyber Security", which has been founded in 2012 by the German Federal Office for Information Security. The goal is to strengthen the resilience of Germany as a business location against cyber attacks. This initiative is the largest network of its kind in Europe and has thousands of participating companies and institutions and more are joining every day.
All of the above mentioned measures form a suite of preventive safeguards that provide the Leschaco Group with the best possible protection against potential cyber threats.
