Increase in attacks on supply chains increases by 650 percent
By Lothar Geuenich, Regional Director Central Europe at Check Point Software
Lothar Geuenich, Regional Director Central Europe at Check Point Software Technologies GmbH
Supply chain attacks are not new, but in the last year they have rapidly increased in scope, sophistication and frequency. Our annual security report shows that the number of such attacks in 2021 has increased by a staggering 650 percent compared to the previous year. In addition, we found out that 82 percent of companies have decided to provide the third-party providers of their software, i.e. people outside the company, with privileged access permissions. In addition, 76 percent gave these third-party service providers permission to take over an account in full. However, the disturbing thing is that 90 percent of the IT security departments did not know about it.
Now KP Snacks and its supply chain in England have become the latest victim of a hacker gang. No wonder: in a digitized economy that increasingly consists of complex connections between suppliers, partners and customers, the risk of vulnerability to IT attacks increases exponentially and companies cannot afford to be satisfied with the second best IT security. The cost of ransomware attacks and their remediation, in addition to the ransom, can run into the millions. In addition, there is the loss of trust of customers, partners and employees, as well as the possible collapse of the share price on the stock exchange – the fact that a short-term shortage of popular nut and chip brands is now expected in England is painful, but indicates a loss of production at KP Snacks and it hurts.
But such damage can be avoided if you, as an entrepreneur, follow an intelligent security approach and use the appropriate technology to prevent malware from entering the network at all. Consolidated IT security architecture is the keyword here.
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