Due to its critical nature, the manufacturing industry is a prime target for bad actors to exploit, said Ferhat Dikbiyik, Black Kite’s chief research and intelligence officer. Black Kite’s data reveals that manufacturing was the top industry victimized by ransomware between April 2023 and March 2024, with over 1,000 confirmed attacks. Particularly vulnerable sectors included chemical manufacturing and transportation equipment manufacturing, where over 60% of companies fell into the critical category for ransomware risk. Every subcategory in manufacturing averaged a 0.4 or higher RSI score, placing them in the critical risk zone with an increased likelihood of experiencing a ransomware attack. As cyber threats grow more frequent and sophisticated, Black Kite’s research serves as a call to action for the manufacturing sector to strengthen its cyber defenses. Black Kite’s Ransomware Susceptibility Index provided further insight into the likelihood of a ransomware attack across the manufacturing industry. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. The findings stem from an analysis of nearly 5,000 companies across 10 manufacturing sub-industries, highlighting the extensive third-party risk landscape in the sector. In the furniture and related product manufacturing sub-industry, 94% of companies scored a D or F in patch management, meaning their systems are running outdated or vulnerable software. A staggering 80% of manufacturing companies have critical vulnerabilities, putting them at heightened risk of cyberattacks. This was one of the findings of Back Kite’s 2024 report, The Biggest Third-Party Risks in Manufacturing. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. As manufacturing rapidly adopts digital technologies, it has become a prime target for cyberattacks. “It is important to note that in manufacturing, many systems are integral to the production process and cannot be easily updated without potentially impacting operations. The industrial machinery manufacturing sector was hit hardest, followed by motor vehicle parts and pharmaceutical manufacturers. The report highlights several risks frequently present when manufacturing companies are compromised. The RSI score, ranging from 0.0 (lowest probability) to 1.0 (highest probability), uses open-source intelligence and machine learning to assess the risk for companies. Copyright © 2024 Information Security Buzz is brand owned by Bora Design SL a company registered in Spain with company number B42720136 whose registered office is in Alicante, Spain. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
This Cyber News was published on informationsecuritybuzz.com. Publication date: Fri, 04 Oct 2024 06:13:05 +0000