Manufacturing organizations are increasingly finding themselves in the crosshairs of cybercriminals. The industry’s challenges are multifaceted, ranging from supply chain disruptions due to natural disasters, geopolitical issues, and pandemics, to the need to keep pace with rapidly evolving Industry 4.0 technologies.
The Cybersecurity Conundrum
The adoption of advanced technologies such as automation, artificial intelligence, and other smart factory solutions is crucial for manufacturers to stay competitive. However, this digital transformation comes with a significant risk – cybersecurity threats. As manufacturing processes become more interconnected through the Internet of Things (IoT) and other cyber-physical technologies, the industry becomes more vulnerable to cyber threats.
Legacy systems, often riddled with vulnerabilities and security gaps, further exacerbate the problem. Relying on outdated technology not only jeopardizes data but may also result in additional expenses, either through paying criminals or losing customers.
Ransomware Attacks: A Persistent Threat
Manufacturing was the industry most targeted by ransomware attacks in 2023, with companies in this sector experiencing 638 ransomware attacks. Supply chain attacks, where cybercriminals manipulate a company’s manufacturing processes through interference with both hardware and software, are also a common tactic.
One notable example is the major American goods manufacturer, Clorox, which suffered significant disruption due to a ransomware attack in 2023. The breach cost Clorox $356 million due to a 20% decline in sales, a steep drop in stock price, and the $25 million spent securing their systems post-breach.
The Need for a Data-Driven Approach to Threat Intelligence
Given the rise of targeted cyberattacks on the manufacturing sector, resilience against threats must be a top priority. Continuous monitoring and threat intelligence are vital to protect against these ongoing and emerging threats.
Manufacturers should take a data-driven approach to threat intelligence. A threat intelligence platform can help aggregate and combine unstructured and structured data from any source, internal and external. This approach can help manufacturing organizations build robust data-driven threat intelligence programs that safeguard their operations, intellectual property, and compliance standing, while ensuring continuous and secure production environments.
