Half of Manufacturers Hit by Data Breaches in Past Year

In a new survey from Sikich, half of participating manufacturers reported being a victim of at least one data breach in the past 12 months.

Sikich is a firm that specializes in accounting, advisory, investment banking, technology and managed services.

Of the 50 percent of respondents who said their companies experienced data breaches, 11 percent said they had experienced “major” breaches.

Still, executives believe their companies can thwart attacks. A majority (54 percent) said they are “extremely” or “very” confident in the ability of their companies to prevent or minimize the impact of data breaches.

“Cybercriminals have moved on from focusing primarily on organizations rich in sensitive personal data, such as financial or health care institutions,” said Brad Lutgen, partner-in-charge of Sikich’s cybersecurity practice.

“Instead, they target any organization with IT weaknesses and attempt to turn a profit through ransomware and other cyberextortion techniques,” Lutgen added. “In response to this growing threat, manufacturing executives must make security a core corporate priority and push forward the implementation of preventative measures in their organizations.”

The report found that many manufacturers—especially those with revenues under $500 million—neglect key cybersecurity preparedness efforts.

Overall, less than 40 percent of these smaller companies perform cyber audits (38 percent), penetration testing (33 percent), security assessments of vendors (32 percent) and phishing exercises on employees (31 percent).

Source: Industry Week