Supply Chain

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Software Supply Chain Vulnerability

Supply-chain attacks impacted 54m victims in 2023

Last year saw exponential growth in the number of organizations impacted by supply-chain attacks, although the increase in the number of organizations targeted has remained slow. According to the 2023 data breach report from the Identity Theft Resource Center (ITRC) the number of organizations impacted has surged by more than 2,600 percent since 2018, affecting over 54 million victims. “We must acknowledge the significant impact of Supply Chain Attacks and their effect on all organizations. A single supply chain attack can directly or indirectly impact hundreds or thousands of businesses that rely on the same vendor,” warns the ITRC. While supply chain attacks have been around for many years, the ability to automate and launch the attacks at scale accelerated in 2018. The MOVEit attack last year shows the scope and scale a Supply Chain Attack can have. According to the report, 102 entities were directly impacted by threat actors exploiting a MOVEit product. However, 1,271 organizations were indirectly affected when information stored in or accessed by a MOVEit product or service was compromised via a vendor or vendors.

United States Energy Firm Hacks

Top 10 US energy firms hit by 3rd-party attacks

Nine out of ten of the world’s leading energy companies, including the top ten US energy companies, experienced a third-party data breach sometime in the last 12 months. According to cybersecurity ratings company Security Scorecard, while only four percent of leading energy companies worldwide suffered a direct data breach, most were compromised via a supplier, contractor, or other third-party organization.     “Fueling the global economy and daily life, reliance on the energy sector elevates it as a prime target for cyberattacks. Amid economic and political uncertainties, concerns about safeguarding this vital sector intensified. Energy attacks not only result in financial losses and disruptions but ripple through manufacturing, healthcare, and transportation sectors,” says Security ScoreCard. 

EU Supply Chain Protection

EU wakes up to the global supply chain threat

Systems powered by artificial intelligence, quantum computing, and cutting-edge microchips, together with genetic engineering, are being viewed with suspicion by the European Commission. As a result, the European Union (EU) is now in close and intense consultation with the EU’s 27 member states to establish an argument for potential trade bans and investment screenings.

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