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Home » Blogs » The Broader Impact of Security Breaches in Your Supply Chain
The recent SolarWinds hack demonstrated the risks all businesses face through their supply chains. Cybercriminals are increasingly using suppliers as launchpads to target businesses, often through compromised software and business email compromise attacks. The impact of a successful cyber-attack can be huge – Datto’s recent Global State of the Channel Ransomware Report stated that the average cost of ransomware associated downtime is nearly six times what it was in 2018, and that the typical cost of downtime is nearly 50 times greater than the ransom demanded.
However, in many if not most cases it won’t be a cybercriminal targeting your business by targeting a supplier that you need to be wary of – it’s the potential business impact of losing access to supplier services that have been compromised by cyber-attack.
In this blog we’ll explore the broader impact of security breaches on your supply chain, and suggest an approach to mitigating the risks you face.
Modern supply chains are complex, multi-faceted things. A cyber-attack against one part of the chain can cause ripples throughout, affecting suppliers and consumers alike. Let’s explore some examples of how supply chain security breaches can adversely impact a business.
As you can see, supply chain security breaches present risks to your business wherever you are within the chain itself. How can you minimise the risk to your business? Let’s take a look.
Your business has never been more reliant on supply chains to deliver products and services to your end users. Whether it’s sourcing parts from suppliers, outsourcing functions like finance or marketing, or working with logistics firms to transport your products around the world, your supply chain is critical to your operational integrity.
You can never truly mitigate supply chain risk, but you can minimise it by being diligent around the partners you work with. Here are five straightforward steps you should take to understand and minimise your supply chain risk:
Hackers are actively targeting businesses in your supply chain in order to disrupt operations and potentially even gain a foothold into your environment. And in today’s complex operating landscape where independencies are key to service delivery, any disruptions to your suppliers resulting from a cyber-attack can cause significant collateral damage to you as a result.
At Six Degrees we have the expertise and the experience to deliver tailored solutions that will enhance your business’ cyber security posture and minimise supply chain risk. But before we start, we always want to understand your organisation and where you are on your own cyber security journey. That’s why we offer a cyber security assessment that will give us – and you – the knowledge and tools to roadmap the next steps of your journey. Schedule a call if you want to learn more.
We’ve published a new Threat Flash, compiled by our Cyber Intelligence Team, that provides an overview of the key cyber threats to the logistics sector, with details of recent ransomware attacks against organisations in the sector. Download it for free here.
Vulnerabilities in Microsoft Exchange Server are being exploited…
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