The manufacturing industry continues to have a direct relationship with innovation, relying on and using groundbreaking advancements in order to bring efficiency to its processes. But because of this, manufacturers across the world have become prime targets for cyberattacks.
In this blog, we’ll delve into the intricacies of these cyberattacks, attempting to reveal the reasons behind hackers’ relentless pursuit of your important information, while unveiling crucial strategies for bolstering cybersecurity in manufacturing.
Why Do Hackers Target the Manufacturing Industry?
Let’s discover why cybersecurity in manufacturing is so crucial. Why are hackers after your data specifically?
New Technologies with Lagging Cybersecurity Measures
The manufacturing industry is undergoing a rapid transformation through the integration of Industry 4.0 technologies, such as the Internet of Things (IoT), automation, and cloud computing.
While these innovations promise increased efficiency and productivity, they also introduce new vulnerabilities. According to a survey conducted by Deloitte, 39% of manufacturers experienced a cybersecurity incident that led to disruption or data loss in the past year.
Many manufacturers have been slow to implement robust cybersecurity measures, making them easy targets for hackers seeking weak points to exploit.
Financial Gain
Hackers are motivated by financial gain, and the manufacturing sector offers significant opportunities for monetary reward. Ransomware attacks have become increasingly prevalent in the industry. Manufacturers may be more inclined to pay the ransom to resume operations quickly and avoid costly production downtime.
Fragmented or Siloed Technology Ecosystem
Manufacturing companies often operate with a fragmented technology ecosystem, where different departments use disparate software and hardware solutions. This siloed approach can lead to blind spots in the overall security posture, making it easier for hackers to find vulnerabilities and pivot across systems.
Methods Hackers Use to Target Manufacturing Companies
Cyberattack strategies are constantly evolving, but there are a few favorite methods hackers use to target manufacturing companies.
Ransomware Attacks
Ransomware is a malicious software that encrypts a manufacturer’s data, rendering it inaccessible until a ransom is paid. Hackers often exploit vulnerabilities in outdated software or use social engineering techniques like phishing emails to gain initial access.
- Coveware’s Quarterly Ransomware Report revealed that the average ransom payment in Q2 of 2022 was $258,143, with an average downtime of 23 days for manufacturing businesses in Q3.
Phishing and Social Engineering
Phishing remains one of the most prevalent methods for initiating cyberattacks in all industries, including manufacturing. By tricking employees into divulging login credentials or clicking on malicious links, hackers can bypass traditional security measures.
- According to Verizon’s 2021 Data Breach Investigations Report, phishing is a top tactic used in successful breaches.
What Can Manufacturers Do About It?
While these threats might be nerve racking, you don’t have to sit by and leave your company at the mercy of bad actors! Here are some proactive steps you can take to protect your livelihood:
Strengthen Cybersecurity Awareness and Training
Educating employees about cybersecurity best practices is crucial in preventing successful attacks. Regular training on identifying phishing attempts, using strong passwords, and handling sensitive information will help foster a security-conscious culture.
Implement Multi-Layered Security Measures
Cybersecurity in manufacturing should be a multi-faceted approach, including robust firewalls, intrusion detection systems, and endpoint protection. Regular security assessments and penetration testing can help identify vulnerabilities and weaknesses in an infrastructure.
Collaborate and Share Threat Intelligence
Manufacturers can benefit from joining industry-specific threat intelligence sharing groups or organizations. By sharing cybersecurity threat information, companies can collectively stay one step ahead of evolving attack methods.
Protect Your Manufacturing Company with Weber TC
As the manufacturing industry continues to embrace technological advancements, cybersecurity in manufacturing becomes just as critical. For more help protecting you and your business, contact Weber TC today. Our team of experts specializes in tailoring cybersecurity solutions for the manufacturing industry. Safeguard your business from cyber threats today!
