Manufacturing Cyber Security Risks

The ministerial statement clearly articulated the benefits and risks that a digital world brings to sectors like manufacturing stating.

Manufacturing cyber security risks.

What a typical modern manufacturing it network looks like not too long ago there was a gap in connected devices a security measure ensuring that an industrial network was physically isolated. In a 2016 survey 31 percent of manufacturing respondents admitted they had never performed a cyber risk assessment of their industrial control systems. But cyber security has never been a more vital part of manufacturing operations. Metals capital goods chemicals and electronics industries are fast becoming prone to cyber security risks as investments in manufacturing systems that incorporate connected devices or internet of things iot increase.

The deloitte center for industry insights surveyed 225 manufacturing industry cyber risk executives representing a diverse collection of companies from a variety of manufacturing sectors to evaluate how manufacturing companies are confronting cyber risk issues. With cyber breaches happening so often it s understandable why companies are increasing cybersecurity budgets but they shouldn t put all their eggs in one security basket. As a result manufacturers are rushing to prioritize cyber security in their overall information technology spending. Think about a manufacturers server room.

Cybersecurity risks for manufacturing. While launching attacks against the various businesses they can not only lead to huge losses but also maim the reputation of the businesses that they attack. Change in technology and associated cyber risks. Sabotaging a factory or power plant could hardly impact a tense diplomatic conflict.

Engage in dialogue as a team related to the business impact of key cyber risks and prioritize resource allocation to address risks commensurate with the organization s risk tolerance risk posture and capability for relevant business impact. 60 of small businesses affected by cyber. Well the hackers don t seem to agree anymore. Sadly this convenience comes with a lot of risks for manufacturing industries and cyber criminals are often at the favorable end of this risk.

Department of homeland security risk management debunking some common myths describes common misunderstandings about security risks and risk mitigations department of homeland security cybersecurity strengthens us manufacturers infographic that explains the importance of managing cyber risks for manufacturers manufacturing extension. When physical devices fail it has the potential to put all security investments at risk.