Half of British Manufacturers Experienced Cyberattacks Since Start of Covid-19 Shutdowns
The UK experienced a spike in cyberattacks during the pandemic shutdown with the rest of the world, with 50% of general manufacturers being targets of attacks since last year. Companies’ rushed transition to remote working produced a massive increase in opportunities for attacks, as we saw in India’s statistics earlier this year.
Make UK, formerly known as the Engineering Employers’ Federation (EEF), represents UK manufacturers and has been working with them on figuring out the solution to the increase in attacks targeting manufacturers and the automotive industry.
The Cost of Implementing New Cybersecurity Measures is Too High for Most UK Companies
Although companies are trying to put protective measures in place, 59% of affected companies cite that the cost of implementing the appropriate measures is proving to be the greatest barrier between them and safety. This is a big issue considering that manufacturers have faced losses up to £25,000 each.
Unfortunately, close to half (44%) of manufacturers do not even have an training program in place to educate their employees on safe internet and privacy practices while 47% do not have a incident report system in place. These are basic measures that every company should have in place, especially since most company records and information is stored on servers. As technology advances, so should cybersecurity practices. Security no longer applies exclusively to government or high profile tech/financial companies, but to any companies using digital technology.
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What Does This Mean for Manufacturers?
While UK companies are working to stem existing information breaches, it is expected that the rate of targeted attacks on manufacturers will continue to rise. Make UK CEO Stephen Philipson states that this is a “strategic threat” with the potential to destroy the UK economy. Attackers are no longer restricting their efforts to large companies but also to companies with no ties to the government or larger entities. If manufacturers cannot appropriately respond to these events with cybersecurity measures or cannot afford to do so, it is predicted that the continuous attacks will act as a heavy drain on the economy and benefit governments at odds with the nation.
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In the meantime, individuals must guard their own information. Making a habit of keeping track of our personal financial and legal information is an important first step as companies take their own steps in implementing proper security measures. For more information on what steps you can take as well as a list of data privacy courses, see: 7 Easy to Use Security Apps to Protect Your Laptop Right Now