The $25M 'Wake-Up Call' Supply Chain Hack

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According to IBM’s Cost of a Data Breach Report, nearly 20 percent of the organizations surveyed stated that they have experienced a breach stemming from a compromise in their supply chain, or a vulnerability related to it. The average cost of these breaches was estimated at just under $4.5 million. Their data also found that attacks emanating from the supply chain had a longer lifecycle than average.

The increased costs and complexities of addressing supply chain attacks is not a surprise when you consider that these intrusions not only impact the targeted company, but the logistics, distribution and retail elements that are dragged along on this difficult and painful ride. To help dive into the factors associated with supply chain attacks and other cybersecurity challenges, we welcome Theo Zafirakos, a Cyber Risk and Information Security Expert at Fortra to the show.

Watch/listen as we discuss:

• The three primary soft spots from which supply chain hacks emanate - software, devices and people.
• Why people are the most neglected of the three, and how they can be trained to identify attacks.
• The expanded role AI is playing in email compromises that help fuel supply chain attacks.
• Why IT and OT need to become more aware of each other's requirements and risks.
• The important role cybersecurity plays in ensuring operational reliability.
• The growing need for ransomware response plans, and how a national supply chain hack helped reinforce this need for all enterprises, regardless of size or sector.

To catch up on past episodes, you can go to Manufacturing.net, IEN.com or MBTmag.com. You can also check Security Breach out wherever you get your podcasts, including Apple, Amazon and Overcast. And if you have a cybersecurity story or topic that you’d like to have us explore on Security Breach, you can reach me at [e-mail].
To download our latest report on industrial cybersecurity, The Industrial Sector’s New Battlefield, click here.