Cybersecurity is a growing concern for manufacturers. Although small to medium-sized enterprises (SMEs) assume they’re less likely to be targeted, research paints a different picture.
According to the 2023 Verizon Data Breach Investigations Report, 43 percent of cyberattacks are directed at small businesses, with manufacturing ranking fifth among the most targeted industries. The types of attacks range from ransomware to data breaches, each capable of causing severe operational disruptions. Here are some of the latest findings related to what manufacturers need to know and how they can protect themselves from evolving threats.
Cybercriminals Target Smaller Manufacturers
Smaller manufacturers often lack the advanced cybersecurity infrastructure of larger firms, making them appealing to hackers looking for easy entry. SMEs are more vulnerable to cyberattacks due to:
- Limited resources: Smaller manufacturers may lack dedicated IT teams or may not implement high-end cybersecurity solutions.
- Lack of employee training: Without proper training, employees are more likely to fall victim to phishing scams or other social engineering tactics.
- Inadequate technology: Many small businesses operate on outdated systems that hackers can exploit with relative ease.
The consequences of these vulnerabilities are far-reaching. From paying ransoms to facing operational shutdowns, the costs quickly add up, making even smaller making even smaller cyberattacks financially crippling. Preparation is the first step in protecting against cyber threats. If an attack occurs, quick response and containment are crucial. Following these steps can help minimize damage:
- Isolate affected systems: Disconnect compromised systems from the network to prevent the spread.
- Contain the attack: Assess the scope of the breach and contain affected areas.
- Notify stakeholders: Alert internal teams, affected vendors, and, if necessary, law enforcement.
- Restore systems and data: Use secure backups to restore systems and ensure they’re free of malware.
- Learn and improve: Post-attack analysis is essential for identifying gaps and preventing future attacks.
10 Overlooked, But Essential Cybersecurity Measures
- Employee training: Educate employees to recognize phishing attempts, verify email sources, and avoid suspicious links.
- Patch management: Utilize a structured patch management program to regularly update software and systems to prevent hackers from exploiting known vulnerabilities.
- Endpoint protection: Install antivirus and endpoint protection software on all devices, including desktops, mobile devices, and servers.
- Firewall implementation: A strong firewall acts as a barrier between a network and potential threats, blocking unauthorized access and protecting sensitive data.
- Unique passwords: Avoid using the same password across multiple applications, as compromised credentials in one system could grant hackers access to others.
- Two-factor authentication (2FA): Enforce 2FA for accessing critical systems, adding an extra layer of security beyond passwords.
- Regular data backups: Conduct frequent backups and store copies in remote locations to ensure data recovery in the event of ransomware or other attacks.
- Secure Wi-Fi networks: Protect Wi-Fi with strong passwords and encryption protocols to prevent unauthorized access through wireless networks.
- Penetration testing: Hire an external cybersecurity firm to conduct regular penetration testing, which identifies and addresses system vulnerabilities.
- Physical Security: Limit physical access to IT equipment and servers to prevent unauthorized individuals from tampering with systems.
As cyber threats become more sophisticated, many manufacturers are turning to Cloud ERP to bolster their cybersecurity. Cloud-based systems can offer enhanced security measures, such as encrypted data, managed backups, and multi-layered access controls that smaller manufacturers might struggle to maintain in-house.
Cybercriminals are continuously evolving their tactics, so regular updates and improvements to your cybersecurity protocols are essential. Investing in cybersecurity not only protects your operations, but also builds trust with customers and stakeholders. Whether it’s through robust training, cloud-based solutions, or constant system monitoring, safeguarding your manufacturing operations against cyber threats is a vital part of staying successful today and into the future.