Cyberattacks Skyrocketed in 2018. Are You Ready for 2019?

We have seen a 350% increase in ransomware attacks, a 250% increase in spoofing or business email compromise (BEC) attacks and a 70% increase in spear-phishing attacks in companies overall.

…Read this report from Industry Week.

Risks have grown significantly around cyberattacks, information breaches from third-party vendors and information theft (i.e., personal identifiable information, intellectual property and trade secrets).

To further complicate the cyberthreat landscape, the threat actors are increasingly integrating their efforts between nation-state cyberattack groups, criminal cyberattack groups and hacktivists, resulting in more sophisticated cyberattacks on manufacturers—especially companies tied to critical infrastructure industries.

Manufacturers must focus on three key aspects of cybersecurity:

1. Protecting their business information systems, including email.

2. Guarding their manufacturing information systems , including computer-aided-design and computer-aided-manufacturing (CAD/CAM) systems, as well as securing production machinery.

3. Securing their products that include software and/or internet-connected devices.

Gregory A. Garrett is head of U.S. and International Cybersecurity for BDO audit, tax and advisory firm.