Technology

Why You Should be Worried about Supply Chain Attacks

A Supply chain attack is an attack strategy that targets a specific organization through the supply chain vulnerabilities. Most of the supply chain attacks are highly linked to vendors who have a lot of loopholes in their security practices.

The attacker may attack through a third-party vendor because most vendors usually have access to the sensitive data of the internal systems. This implies that if one of the vendors is compromised, the shared data is already breached and exposed to hackers.

Why supply chain attacks are a major concern

Most businesses have been affected by cybersecurity breaches involving the supply chain. Supply chain attacks are a weak link in cybersecurity protocols in most businesses, and you have to do everything possible to thwart any targeted attack. Adopt the Zero Trust approach to network security to ensure vendors are not conscientiously exposed to harm from supply chain attacks.

Vendors exposed to attacks due to failures resulting from your end are likely to stop any business transaction with your business. You must ensure effective ransomware attack prevention as most attackers target the weakest link in the chain of trust. With a foothold in the vendors’ network, hackers can easily pivot to the highly secure network using that trusted relationship.

Any attack involving the supply chain also scares existing and potential customers from buying products and services from your business. Mitigating the effects of the supply chain attack is very costly, especially when the attack leads to the loss of confidential business data.

Every time you implement security practices to safeguard your supply chain, you must remember two major impacts resulting from these attacks. These impacts include data breaches and malware infections.

Common risks supply chain risks

There are common risks your supply chain needs to prepare to thwart to avoid supply chain attacks. You must keep each of them in mind as you implement security practices in the supply chain. They include.

Use of unverified or disreputable suppliers

For most businesses, making huge profits is the biggest deal. Well, it’s not bad to make huge profits. But if making huge profits requires suppliers to sign off on a checklist, you need to think twice. When suppliers sign on a checklist, the relationship becomes a game of trust.

If the verification process involves smartphone use, you must ensure the system is up to date to avoid mobile app failures. Without vetting the suppliers thoroughly, you are risking getting attacked by hackers. Some dishonest suppliers may access the company’s information and sell it to hackers.

To avoid this game of gambling on the suppliers, you need to work only with reputable companies that can easily vet and verify their business practices without hassles. But if you find the verification process hard and complicated, you need to think twice about the deal.

Lack of risk-level assessment

With the advancing technology, many things are changing, and without risk-level assessment, improving your security practices will be very challenging. It will also be very hard to detect all potential threats to your company.

The risk assessment should be done regularly to decrease the chances on your supply chain. It will help you assess whether the existing security tools can prevent a potential attack. If not, you will be able to update it on time or buy another tool on time before things get worse.

The only way you can be sure that you are not vulnerable to cybersecurity attacks is when you have a strong defense system that is regularly tested for any vulnerability. For each system, you need to ensure that a corresponding cybersecurity measure is in place to protect the company system from potential attacks.

Lack of cybersecurity training

Even though cybersecurity training is a bit expensive, you need to understand educating your employees about cybersecurity practices is the first line of defense against cyber attacks. Suppose your employees working in the supply chain section are not regularly trained on better data handling practices.

Nothing is dangerous like being attacked, and your employees are not in a position to save the business from hackers. Hiring cybersecurity experts to help resolve the whole issue will be very costly. Customers will lose trust in your data handling practices.

Make sure that all employees receive regular training on cybersecurity practices. They will know how to handle sensitive data and recognize a potential attack on your business supply chain. Also, ensure that the suppliers you are dealing with often train their employees on the best cybersecurity practices. It’s about sealing all the loopholes.

Weak supply chain risk management

Many companies do not have a great team in place that is dedicated to protecting the supply chain from potential cyberattacks. In most cases, most supply management teams are understaffed or underfunded, making it challenging to prevent attacks from hackers using sophisticated tools to infiltrate the system.

Dedicated supply chain management teams should have the necessary tools and be committed to doing everything possible to safeguard the supply chain. There is a need for cooperation from all departments of the business. The supply chain risk management team should be able to analyze your current suppliers and set a baseline for operations.

They should also be able to critically analyze any vulnerability of the supply chain to determine the weakest level within the supply chain that attackers can use for malicious attacks. Ensure a great plan for threat scenarios and their impact on supply chain management. All findings should be gathered and analyzed to determine the supply chain’s risk for a cyber attack and the best plan of action to respond to the attack.

Conclusion

Business owners should worry about supply chain attacks as their effects can be devastating. There are so many businesses that have closed their operations due to an attack on their supply chain. The major impacts of the supply chain attack include data breaches and malicious programs infection. With the remedies discussed above, you can effectively detect any potential supply chain attack and thwart it before affecting all the other systems.

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