By targeting vulnerabilities within the supply chain, cyber attackers find loopholes that can ultimately harm the intended company. A stat from a recent study pointed out that 40% of all cyberattacks now stem from the complexities within the extended supply chain.
In the quest to cut down operational expenditures through tech advancements, the essence of a supply network has emerged. This network is often composed of external entities such as manufacturers, suppliers, couriers, transporters, and buyers, all collaborating to deliver products to final consumers. Despite high-end security measures in place at the target organization, sophisticated cybercriminals frequently choose to compromise third-party businesses within the supply chain. These entities are perceived to have the most vulnerable security practices, making them attractive entry points. As soon as any member’s security lapses are detected, those weaknesses become potential risks for the primary organization.
With the proliferation of cutting-edge technology, companies collect vast amounts of diverse data. Leveraging resources such as the internet and mobile devices, businesses refine their operations, enhancing customer interaction. However, the data interchange between firms introduces inherent cyber-theft risks. Cunning cybercriminals are well aware of the value encrypted within company-held data and craft meticulous strategies to infiltrate this sensitive information.
Cyber adversaries often focus their attacks on supply chain networks, taking advantage of any weak link to penetrate the larger organization’s data reservoirs. These incidents expose a critical issue in supply networks, underscoring the reality that an enterprise’s cyber security framework is only as robust as the most vulnerable link in their chain.
Attackers may also exploit the supply chain through malicious software, commonly referred to as malware. A notable incident involved a target whose systems were breached following the compromise of a third-party’s security credentials. These credentials, which typically include login details, passwords, and network access rights, were inadequately secured, allowing hackers to infiltrate the target’s systems. Consequently, the personal information of 70 million customers was stolen. This significant breach resulted in the resignation of the CEO and incurred over $200 million in costs for the company.
