The Future of Cybersecurity: Latest Trends and Innovations

According to recent reports from Mickensy, the cybersecurity landscape constantly evolves, and staying up-to-date with the latest trends and threats is crucial for organizations. Some of the current trends in cybersecurity include the increased use of artificial intelligence and machine learning, the adoption of a zero-trust security model, and the growing importance of endpoint security. Additionally, there is a growing concern for the security of cloud-based systems and the need for better cloud security solutions. Organizations must keep these trends in mind and continuously adapt their security strategies to avoid potential threats.

Cybersecurity is a hot topic, and manufacturing is an often overlooked industry. As manufacturing companies become more technology savvy, they are increasingly vulnerable to attacks that could impact their bottom line. Even though manufacturers are faced with rising threats like phishing scams and ransomware attacks, most don’t report experiencing these problems. 

While manufacturing is sometimes overlooked in cybersecurity circles 

You might not think of manufacturing as a cybersecurity risk, but as attacks have increased in number and severity, companies in all industries are at risk for cyberattacks. Manufacturing is an essential part of the economy and employs many Americans. It’s another example demonstrating how no one sector is immune from security threats; every industry must be aware of what can happen if they don’t take proper precautions against cyberattacks. 

Phishing scams to malware to ransomware attacks 

Given the highly digital nature of manufacturing, it’s no surprise that cyberattacks are an increasing threat to this sector. In fact, according to a recent study by Ponemon Institute, the median cost of a data breach for manufacturing companies is $1 million—a figure that was second only to that of healthcare. 

Moreover, almost half of all phishing scams target manufacturing organizations. Ransomware attacks are also rising. This is especially concerning because many manufacturing facilities operate as critical infrastructure—especially those involved in robotics or other automation technologies—and must be able to properly secure their systems against threats such as malware without disrupting production activities or operations. 

Manufacturers are among the highest targets of ransomware attacks. 

Manufacturers are among the highest targets of ransomware attacks due to the large amounts of sensitive data and their critical infrastructure. 

• Many manufacturers have sensitive information in their systems, such as customer data or intellectual property. 
• In addition to having sensitive information, many manufacturers operate critical infrastructure (e.g., manufacturing plants and power grids). As a result, if attackers could access these systems, they could cause significant harm to people or property. 
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Ransomware attacks have risen dramatically since 2016 

Ransomware attacks have risen dramatically since 2016, affecting manufacturing companies across all sectors. The increase in the number of cyber criminals and a lack of security awareness among employees are the top two reasons for this rise, according to respondents to our survey. Many respondents also cited a lack of budget and skill as contributing factors. 

While manufacturers were hit with three times as many ransomware attacks in 2017 than the year prior, the vast majority of these organizations (87%) never reported getting hit by one. 

In other words, they don’t know whether they have been hacked. The most targeted types of malware in manufacturing are targeted trojan and targeted backdoor varieties, which often originate from a fake job application or a false business email compromise. Malware is software that can be used to gain access to a computer system without the owner’s consent. Malware attacks such as these often result in business email compromises (BECs), where an attacker sends phishing emails with malicious links and attachments to infiltrate an organization’s network. While these attacks may seem innocuous at first glance—as they appear to come from a legitimate source—they can have devastating effects on businesses’ finances if not addressed immediately by security teams equipped with the right tools and processes for handling them. 

Phishing emails  

Phishing emails are typically used to trick recipients into providing sensitive information such as passwords, credit card numbers, and usernames. The most common types of phishing emails targeting manufacturing include: 

• Emails that ask you to respond quickly or offer a sense of urgency.; 
• Emails containing attachments or links to malware (malicious software).; 

• Emails containing links to fake websites that appear legitimate,; and 
• Emails sent from an unknown sender. 

The most vulnerable points for malware infection are typically through malicious links or attachments sent via email (41%). 

Of the respondents, 41% identified malicious links or attachments sent via email as the most common attack vector for malware infection. This message type is also the most common way to deliver ransomware and phishing attacks, two of the most dangerous types of malware. 

Additionally, 73% of organizations reported at least one incident of malware infection over their network in the last year. 

Cybersecurity vulnerabilities 

Cybersecurity vulnerabilities can be mitigated by awareness and education. Cybersecurity threats constantly evolve, so essential employees must be aware of current cyber threats and what they look like. Employees should also have access to educational resources to help them identify cybersecurity threats in their networks or digital devices (e.g., computers and smartphones).  

Employees should also receive training on how to prevent cyberattacks from occurring in the first place; this includes knowing which files should not be opened on an employee’s computer or smartphone (e.g., email attachments), as well as how to detect phishing emails and other fraudulent attempts at stealing personal information. In addition, employees need training about what actions they should take if their organization experiences a data breach. For example,  they change all passwords immediately after an incident so that hackers cannot gain access through these compromised accounts again. 

The cybersecurity landscape is changing rapidly, and the manufacturing industry needs to keep pace. The good news is that manufacturers can protect themselves from attacks by being aware of the risks they face and educating their employees on identifying potential threats. Cybersecurity vulnerabilities can be mitigated by awareness and education, but it’s up to individuals within each company. For more insightful blogs, visit auxin.io