Cyber Risks Mount: Preventive Measures For Manufacturers

Cyber-attacks are on the rise and manufacturing companies are not immune. Manufacturers who rely on automation, robotics and connected networks are especially vulnerable. Here are some examples of cyber-attacks and how you can protect your business to minimize the associated risks.

Know Your Risks

Spear phishing is a type of e-mail phishing campaign that targets multiple people at an organization using inside information that makes the hacker's inquiry look legitimate. This scheme is not sophisticated in that malware used to execute this attack can be purchased on the black market. Last December, hackers caused a blackout in the Ukraine by breaching the control system for a power grid using a phishing campaign.

Data breaches are one of the biggest fears of business owners and hackers often use that fear to cripple organizations through ransomware. This type of scheme entails malware that is installed on a computer or network without the user's consent. This software relinquishes control back to management only if they agree to pay ransom to the malware operators. Once the money is paid, the hackers promise to remove the restrictions.

Cyber-attacks can harm a manufacturer or distributor in many ways. They can cause safety issues, negative publicity, lost time and productivity, and compromised personal and corporate data. The average cost of a data breach in the United States is now more than $7 million, according to a 2016 study published by independent research group The Ponemon Institute.

Safeguard Your Operations

How can you reduce cyber risks? A manufacturer's first line of defense against hackers is its employees. However, employees can also be a liability if they are not vigilant and knowledgeable about cyber threats. In fact, the latest Ponemon study...