Manufacturing Cybersecurity Risks Grow
Randy Wolken, President & CEO 

Manufacturers are increasingly under cyber attack. As we near the end of 2022, we look back at one of the worst years on record. Cyber attacks and breaches continue to rise with no end in sight, while organizations continue to invest in technology at a record pace. According to Check Point, cyber attacks had increased 42% globally by mid-year. From supply chain breaches to ransomware, organizations struggle to avoid becoming a cyber attack statistic.

This trend is global. Nearly half of Britain’s manufacturers (42%) have been a victim of cybercrime over the last 12 months, according to new research published on December 5th by Make UK, the manufacturers’ organization, and intelligent security software and services provider, Blackberry. This study reveals that UK manufacturers face many cybersecurity risks, ranging from simple employee error to complex targeted attacks. The top three cybersecurity vulnerabilities were identified as maintaining legacy IT (45%), a lack of cyber skills within the company (38%), and providing access to third parties for monitoring and maintenance (33%). In addition, the research found that production stoppages were the most common result of a cyber attack (65%), with reputation damage ranking second (43%). Companies further revealed that new customers now want reassurance on details of the cybersecurity in place before signing contracts.

MACNY is committed to helping members prepare and respond to this increasing threat. We are launching a user group of companies who will work together to increase their preparedness. Also, our team assists members so they can find services to augment their efforts. And we will hold our third cybersecurity event where experts and members come together to address ongoing threats and actions needed now, given the growing threat. For more information on how MACNY can help you, please contact Cindy Oehmigen at [email protected].

It is clear that the manufacturing industry will continue to be a key target for cyber threats, which will only grow over the coming years. The key to all cybersecurity is a committed company effort to be secure, vigilant, and resilient. Companies need to take a measured, risk-based approach to what is secured and how to secure it. Vigilance involves monitoring systems, applications, people, and the outside environment to detect incidents more effectively. Finally, companies must be resilient by preparing for incidents to decrease the business impact.