Make UK, who represent manufactures in the United Kingdom (UK), reported 42% of manufacturers in the UK have fell victim to cyber-crime in 2022, with individual company damages costing upwards of £250,000. Suppliers and supply chains are an increasing focus for cyber criminals due to the significant impact they have on business operations.
The same percentage of manufacturers were discovered, via questionnaire, to not insure against the financial loss due to cyber-attack as those that fell victim to cyber-crime. However, whether the uninsured manufacturers and those that fell victim are one and the same is unknown. Further research identified that just 4% less manufacturers did not have a formal cyber security procedure in the event of a security incident.
Cost, lack of training and awareness, and other business priorities were among the top barriers for manufacturers increasing their cyber protection.
The following statistics are based on the manufacturing companies that took part in the questionnaire provided by Make UK:
|Victim to cyber-crime||42%|
|Supplier asking to demonstrate cyber security robustness||44.6%|
|Offering formal cyber security training||62%|
|Having a cyber security committee||62%|
The trends as shown in the two latter rows of the “key statistics” come as no surprise – as a distinct cyber security committee becomes more established, the more training is offered to employees. As more employees are trained, the less breaches could be the result of human error – which is currently the most likely method of compromise. It is worth noting that the number of employees is a key player, as the research suggested that company growth and focus on cyber security go hand in hand.
While the cost of cyber security products may cost a large sum, the consequences may end up costing the company many times the amount in both IP loss and legal fees.
If you would like to understand how Salus can help support your company through servicing a vulnerability management programme, third party assurance and wider penetration testing services, please get in touch at email@example.com.