Q: As an automotive manufacturer or supplier, what is a significant cybersecurity threat I can expect to face?
A: One of the greatest cybersecurity risks that affects automotive manufacturers and suppliers is the threat of ransomware, where cybercriminals infiltrate networks to lock down systems, servers, databases, and files, and demand a ransom in exchange for providing the decryption key. Regular day-to-day business grinds to a halt in ransomware attacks, because businesses are prevented from accessing files and databases, communicating internally and externally, and operating necessary equipment.
Every minute that factory machinery is idle equates to thousands upon thousands of lost dollars. Preparing for and preventing ransomware attacks requires administrative, technical, and physical safeguards. All employees should receive ongoing phishing training, as phishing emails that use fraud to obtain log-in credentials from unsuspecting employees remain a common method criminals use to gain unauthorized access.
In addition to training, manufacturers and suppliers should invest in back-ups of their systems that are frequently run and segmented appropriately from the operational environment. Businesses should also invest in cyberliability coverage and prepare an incident response plan.Click here to read the full article from DBusiness.