"The Rising Risk of Cyber Crime in the Supply Chain"

Cybercriminals are increasingly focusing on the logistics industry. Companies, as well as their suppliers and third-party service providers, can take measures to reduce their vulnerability. The logistics industry has been an increasingly alluring target for cybercriminals in recent years for various reasons. The first reason is that logistics is one of the world's most lucrative industries and a critical part of the economy, making it a logical target for criminals wishing to have a significantly disruptive impact. In addition to its emphasis on the physical flow of commodities, logistics has a substantial digital footprint. The logistics portion of the modern supply chain has evolved to rely heavily on data processing and information exchange. Previously paper-based industrial forms, such as invoices, export compliance certificates, and bills of lading, are now digitalized. As a result, fleet operators today share more digital data with partners and vendors than ever before, exposing them to greater security risks. The cargo supply chain is comprised of numerous parties with differing levels of cybersecurity systems, thus giving thieves the opportunity to find and exploit the network's weak points. Given the rapid evolution and high level of sophistication of modern cyberattacks, transport and logistics companies, along with their clients must remain aware of the cyber threat landscape. This will enable them to comprehend and protect against existing and emerging cyber threats. Due to the interconnected nature of the supply chain, it is also essential that they collaborate with suppliers and partners to apply cybersecurity best practices throughout the network. Ransomware, phishing, and sensor and industrial technology intercepts are some of the top cyber threats that have impacted the transportation and logistics industry. This article continues to discuss the cyber threats faced by the logistics sector and how to combat them. 

Global Trade reports "The Rising Risk of Cyber Crime in the Supply Chain"