Research: Supply Chain Cyber Attacks Continue to Increase

Organizations have an opportunity to reduce their third-party risk by clarifying whether they or their suppliers are responsible for supply chain risk management, according to new global research of 1400 cybersecurity decision makers by NCC Group.

Around one in three (36%) said that they are more responsible for preventing, detecting and resolving supply chain attacks than their suppliers. Just over half (53%) said that their company and its suppliers are equally responsible for the security of supply chains.

This could affect organizations’ third-party risk if it means that they are not conducting appropriate due diligence on their suppliers, and could expose them to regulatory penalties. The EU’s Digital Operational Resilience Act (DORA) mandates that financial entities include key security requirements in their contracts with third parties, indicating that regulators are increasingly emphasizing the organization’s role in supplier risk management.

Despite this, half (49%) of the organizations surveyed said that they did not stipulate security standards that their suppliers must adhere to as part of their contracts. One in three (34%) said that they do not regularly monitor and risk assess their suppliers’ cybersecurity arrangements.

The research suggests that cybersecurity attacks on company supply chains increased by 51% between July and December 2021. Only one in three (32%) organizations were ‘very confident’ that they could respond quickly and effectively to a supply chain attack.

Encouragingly, respondents recognized supplier risk as one of their top challenges for the next 6-12 months and plan to increase their security budgets by an average of 10% this year.

Arina Palchik, Global Commercial Director, Remediation, at NCC Group, said: “Many organizations work closely with their suppliers by integrating them into their infrastructures to increase efficiencies and strengthen operations, but this can increase their cyber risk by widening their potential attack surfaces. Security gaps in supply chains can lead to leakage of customer data and serve as entry points for ransomware attacks, and our latest research suggests that hackers are increasingly targeting organizations through their suppliers, with attacks up by 51% in the last six months of 2021.

“It’s encouraging that organizations recognize supplier risk as one of their top challenges for 2022. However, our findings uncovered specific areas for improvement including clarity around responsibility for preventing, detecting and resolving attacks and lax controls for supplier assurance. It’s important that any investment in security addresses these areas to reduce third-party risk and enable organizations to work with their suppliers in confidence.”

Featured

  • ASIS International and SIA Release “Complexities in the Global Security Market: 2024 Through 2026”

    ASIS International and the Security Industry Association (SIA) – the leading security associations for the security industry – have released ”Complexities in the Global Security Market: 2024 Through 2026”, a new research report that provides insights into the equipment, technologies, and employment of the global security industry, including regional market breakouts. SIA and ASIS partnered with global analytics and advisory firm Omdia to complete the research. Read Now

  • President Biden Issues Executive Order to Bolster U.S Port Cybersecurity

    On Wednesday, President Biden issued an Executive Order to bolster the security of the nation’s ports, alongside a series of additional actions that will strengthen maritime cybersecurity and more Read Now

  • Report: 15 Percent of All Emails Sent in 2023 Were Malicious

    VIPRE Security Group recently released its report titled “Email Security in 2024: An Expert Look at Email-Based Threats”. The 2024 predictions for email security in this report are based on an analysis of over 7 billion emails processed by VIPRE worldwide during 2023. This equates to almost one email for everyone on the planet. Of those, roughly 1 billion (or 15%) were malicious. Read Now

  • ASIS Announces ANSI-Approved Cannabis Security Standard

    ASIS International, a leading authority in security standards and guidelines, proudly announces the release of a pioneering American National Standards Institute (ANSI)-approved standard dedicated to cannabis security. This best-in-class standard, meticulously developed by industry experts, sets a new benchmark by providing comprehensive requirements and guidance for the design, implementation, monitoring, evaluation, and maintenance of a cannabis security program. Read Now

Featured Cybersecurity

Whitepapers

New Products

  • Automatic Systems V07

    Automatic Systems V07

    Automatic Systems, an industry-leading manufacturer of pedestrian and vehicle secure entrance control access systems, is pleased to announce the release of its groundbreaking V07 software. The V07 software update is designed specifically to address cybersecurity concerns and will ensure the integrity and confidentiality of Automatic Systems applications. With the new V07 software, updates will be delivered by means of an encrypted file. 3

  • ResponderLink

    ResponderLink

    Shooter Detection Systems (SDS), an Alarm.com company and a global leader in gunshot detection solutions, has introduced ResponderLink, a groundbreaking new 911 notification service for gunshot events. ResponderLink completes the circle from detection to 911 notification to first responder awareness, giving law enforcement enhanced situational intelligence they urgently need to save lives. Integrating SDS’s proven gunshot detection system with Noonlight’s SendPolice platform, ResponderLink is the first solution to automatically deliver real-time gunshot detection data to 911 call centers and first responders. When shots are detected, the 911 dispatching center, also known as the Public Safety Answering Point or PSAP, is contacted based on the gunfire location, enabling faster initiation of life-saving emergency protocols. 3

  • Compact IP Video Intercom

    Viking’s X-205 Series of intercoms provide HD IP video and two-way voice communication - all wrapped up in an attractive compact chassis. 3