Every business is susceptible to cyber attacks, no matter how small, or how little data they work with. However, businesses in some industries are even more vulnerable than the rest.
Businesses can be considered “vulnerable” for many reasons. This can be because of the type of data the business deals with. For example, businesses in the medical industry need access to their data at all times, sometimes in order to save lives. Due to this, they may be targeted by ransomware attacks because they’ll be likely to meet any demands to release the data since losing it is not an option.
Another factor in vulnerability is what technology is used in the industry. For example, businesses that have their own proprietary technology that is only used in that one industry have specific potential points of failure when it comes to network cybersecurity which, once exploited, can endanger the entire industry.
These are only two commonly known risk factors, and there are infinite additions to the list. Here however, we’re going to talk about risks to manufacturing and energy companies.
The manufacturing industry is one of the most commonly targeted because this industry requires the use of so much third party software. Most modern automated manufacturing equipment has to interface with a network to receive updates and continue running properly. For example, in 2017 an oil parts manufacturer was the victim of a ransomware attack. The hackers gained access to the business’s servers through hacking a third party software that was routinely used to check equipment for updates before the breach.
The point of failure here was the third party software, which lacked security features that would detect threats. This oversight resulted in what became a million dollar breach after all was said and done.
Companies in the energy industry are also a popular target for hackers. Like the manufacturing industry, companies in the energy industry have to rely on a variety of third party software in the course of business processes. When third party software providers don’t maintain their cybersecurity then breaches happen.
However, energy businesses are targeted for even more sinister reasons. These companies can represent vital national security interests. When these businesses fall victim to hackers, the results can be catastrophic, reaching far beyond simple financial loss. This point alone is a strong reason why businesses in the energy industry must treat their cybersecurity as a top priority.
The Importance of Cybersecurity
As you can see illustrated in the manufacturing and energy industries, cybersecurity attacks are commonly accomplished through third party software that doesn’t maintain appropriate security standards. Protecting your network and business from hackers is incredibly important for such integral industries.
Curious what the potential points of failure for your business might be? Contact tekRESCUE to learn more about maintaining cybersecurity to prevent ransomware attacks and data breaches.