Guarding Against Cyber Threats

Original Post Source

In a world awash in cyber threats, partners and suppliers can be the vulnerable points that cyber criminals exploit to gain access to systems. Those challenges will get worse before they get better as supply networks become ever more complex.

By Paolo Borghesi, Jon Rigby, David White and Jim Hart

Paolo Borghesi is vice president, Cyber Security Strategy, at AlixPartners LLP. He can be reached at .(JavaScript must be enabled to view this email address). Jon Rigby is director of AlixPartners’ Cyber practice. He can be reached at .(JavaScript must be enabled to view this email address). David White is director of legal services at AlixPartners. He can be reached at .(JavaScript must be enabled to view this email address). Jim Hart can be reached at .(JavaScript must be enabled to view this email address).
January 12, 2017

Not too long ago, Goodwill Industries found that its customers’ payments data had been breached by cyber criminals. Data from 868,000 payment card accounts was stolen. The entry point for the attack? Hackers had used malware to penetrate a third-party vendor’s systems.

A year earlier, Target made news when it suffered a huge and highly publicized breach in which data from 110 million customers and 40 million payment cards was stolen. The national retailer’s systems were initially breached via a connection with one of its vendors, an HVAC provider.

Goodwill and Target are by no means alone. Cyber breaches are proliferating year over year, affecting the confidentiality, integrity and availability of data; recent research by IBM indicates that just between 2014 and 2015, the number of such security incidents increased by 64%. These statistics probably reveal just the tip of the iceberg; they refer only to the security incidents that are detected and declared.

Not too long ago, Goodwill Industries found that its customers’ payments data had been breached by cyber criminals. Data from 868,000 payment card accounts was stolen. The entry point for the attack? Hackers had used malware to penetrate a third-party vendor’s systems.

A year earlier, Target made news when it suffered a huge and highly publicized breach in which data from 110 million customers and 40 million payment cards was stolen. The national retailer’s systems were initially breached via a connection with one of its vendors, an HVAC provider.

Goodwill and Target are by no means alone. Cyber breaches are proliferating year over year, affecting the confidentiality, integrity and availability of data; recent research by IBM indicates that just between 2014 and 2015, the number of such security incidents increased by 64%. These statistics probably reveal just the tip of the iceberg; they refer only to the security incidents that are detected and declared.

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