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Cybersecurity threat is escalating up and down the global supply chain

Five years ago, the largest maritime container shipping company in the world was hit with a cyberattack that crippled its booking system, stalled tracking of its containers and disrupted operations at container terminals all over the world operated by its APM Terminals subsidiary. The financial cost to A.P. Møller-Mærsk was later estimated at US$300 million.

As Lloyd’s List editor Richard Meade noted in introductory remarks for the U.K.-based shipping journal’s 2022 webinar on shipping sector cyber threats, industry surveys show now that cyberattacks and data theft “are routinely in the top three risks perceived by maritime businesses, but those same surveys routinely report that the industry is not fully prepared to tackle that risk.” 

It’s a risk that is escalating up and down the global supply chain. BlueVoyant’s second annual survey of cyber risk management in sectors ranging from financial services and health care to utilities and energy found “a fractured landscape, with different industries and regions responding differently to the challenges posed by another year of damaging, costly cyber events.” 

Source: biv.com

 

Photo source: Dreamstime.com


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