Manufacturing companies are vulnerable to cyber attacks: Deloitte
Manufacturing businesses are particularly vulnerable to cyberattacks, due to their focus on innovation and growing reliance on connected products, according to a study by Deloitte. The study also found 40% of manufacturing companies were impacted by cyber-incidents over the past 12 months, and 38% of those suffered damages in excess of $1m. Four of the top 10 cyber threats confronting manufacturing companies involve internal employees. Whilst 87% of companies have an incident response plan in place, only 36% have fully documented and tested it.
Emerging cyber risk themes

Given the highly connected environments manufacturers work in, and the pace of technological change they face, cyber risk is a top-of-mind industry issue. In fact, nearly half of the executives we surveyed lack confidence they are protected from external threats, and it is increasingly important for organizations to assess their organization’s risk profile and preparedness in the event of a breach or cyberattack.

Six key cyber risk themes above emerged in the study as critical to manufacturers’ abilities to capture the value associated with the new frontier of technology, while appropriately addressing the dynamic cyber risks, in order to protect and enhance value over the longer term.

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