The Netherlands has barely been affected by the recent large-scale cyber attack, but it was reason enough to face the facts. Digital security is currently in the spotlight. The logistics sector is also focusing on internal digital information security.
Digitalization is also increasing rapidly in the logistics sector. Chain partners must exchange large amounts of data which are essential for managing the logistics process. This data ensures that real-time insights are possible at any given moment, for example when tracking the location of a product. Digitalization offers many advantages in the logistics chain, but it also has a downside. It brings with it many new challenges in the field of cyber security.
The downside of digitalization: it makes us vulnerable. A third of Dutch small and medium-sized companies have been deceived by online criminals. The logistics sector has also seen an increase in cyber crime. Freight systems are manipulated, data is hijacked by ransomware or even stolen. This can damage the reputation of a company, bringing survival of a company into jeopardy. Whether or not a company can continue operating is largely dependant on the availability of data. Cyber attacks can ensure that the correct data is no longer available or worse: that the supply chain is broken!
It is important to keep investing in security measures as a company. Not only in the field of IT, but also within the organization. Research shows that 25 percent of cyber incidents are caused by factors that do not involve crime. Risks like technical failure and human error, such as a programming error or data loss, pose a major threat to the future of a company. The logistics sector is particularly vulnerable to cyber incidents because the transport of physical goods is based on data. Information exchange is crucial in the logistics chain.
To counteract cyber incidents, it is important to be aware of the digital risks as a company and the consequences that these risks may have on both your ability to do business and on your security. As a logistics company, it is also important to take responsibility damage control after a cyber incident. Investing in both IT and internal digital information security is crucial.
Source: ABN AMRO, 2016
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