The top 5 cyber security challenges for logistics companies - Flipbook - Page 3
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Few industries are a more attractive target for a cyber attack than logistics, and it’s not difficult to work out why. In 2020, the
global logistics industry was worth €5.275 trillion, and is forecast to grow by 4.7% between 2020 and 20241. While the global
pandemic brought challenges for industry players large and small, most have now recovered and are reaping the benefits of
boosts to both ecommerce and the hybrid-work economy. Labour shortages and productivity challenges notwithstanding, the
outlook for the sector remains positive both in terms of profitability and opportunities for growth.
Add the financial incentive to the potential to wreak havoc on the daily lives of millions of people, and you’ve got the perfect
target for cyber criminals, hackers and hacktivists alike. And just in case you needed any more convincing, consider that
according to a 2019 report by Eye for Transport (EFT), fewer than half (43%) of trucking and logistics organisations had a chief
information security officer (CISO), and only 21% felt they needed their expertise. Pity the 22% of CISOs working for companies
who felt they didn’t need them, but that’s a debate for another day!
Taking all of this into account, it’s no surprise that the transport and logistics sector ranks second place in a list of
industries most affected by cyber-crime worldwide2.
So what can be done about it? Is it a case of hiring a CISO and a team of cyber analysts and letting them run amok
with a vastly inflated cyber budget? It’s certainly an option, and it may well improve your level of protection. But you’ll
only ever be able to measure that according to whether you’ve been breached, or not.
There are easier, more affordable and more cost effective ways of driving down the number of cyber incidents
impacting the logistics industry, and of removing the target from its back.
We take a look at the top five cyber security challenges affecting the logistics industry, how they contribute to
increasing the risk of an attack – and how to address each of them in turn.
While not having a CISO doesn’t necessarily mean that there isn’t a robust cyber defence plan in place, it does indicate that for
a significant number of logistics organisations cyber security isn’t a priority. All of which is great news for the perpetrators of
cyber attacks looking for easy pickings.
1https://www.ti-insight.com/briefs/global-logistics-market-worth-e5-725-trillion-in-2020/
2https://hornetsecurity.com/data/downloads/reports/document-cybersecurity-special-logistics-en.pdf