The global economy is becoming more interconnected, making it easier than ever for hostile actors to carry out these assaults, which take advantage of the trust businesses and their partners have in one another. Supply chain cyberattacks are on the rise. Any cyberattack is risky, but those that target supply chain organizations can be especially damaging. These could be any provider of goods and services, digital or not.
In 2022, several supply chain attacks had far-reaching effects. These attacks are “one-to-many,” meaning that casualties may extend well beyond the original target organization.
In the past 12 months, 45 percent of respondents to the 2022 Global Security Attitude Survey by cybersecurity company CrowdStrike experienced a supply chain assault. This increased from 32% of respondents in 2018, indicating that hackers are becoming more comfortable using this sophisticated cyberattack. Given this information, it’s crucial for firms to comprehend how supply chain attacks happen and to design cybersecurity defenses and incident response strategies that consider these attack pathways.
What is a Supply Chain Attack?
A particular kind of cyberattack that affects both a customer and a third-party vendor is a supply chain assault. Organizations in trustworthy alliances have historically been the target of these attacks.
However, today’s supply chain threats take the shape of attacks on the software supply chain, which encompasses all cloud-based applications and services that a company needs to run. Attackers successfully inserted malicious code into one of the numerous third-party components developers routinely use in their programs in attacks like these. As a result, the app may end up accidentally turning malevolent or developing a back door that would let attackers target everyone who installs the infected program.
Why is Supply Chain Attacks on the Rise?
The expansion of software-as-a-service options and the widespread use of cloud hosting have enabled employees to work effectively from anywhere. The expansion of global supply chains has allowed companies to source goods and support services from a worldwide supply at reasonable prices. To reduce overhead expenses and employee numbers, businesses can outsource the operation of their IT and security systems to managed service providers.
While third-party services help businesses save time and money, they may pose cybersecurity risks. Third-party providers have become more frequently the target of cybercriminals aiming to broaden the scope of their assaults in the hopes of utilizing them as a stepping stone to target thousands of downstream clients in supply chain attacks. Supply chain attacks of this nature are anticipated to become more prevalent.
What Impact do Supply Chain Breaches have on Smbs?
A successful supply chain attack may have various effects on the vendor and any targeted clients. However, the attacker’s objectives will ultimately determine how much harm a supply chain strike does.
Attacks on the software supply chain are projected to grow in importance over the next few years. Within three years, these supply chain attacks might rank among the most serious cyber dangers to firms, according to 84% of survey respondents. 59% of the organizations polled who experienced a supply chain attack lacked a response plan at the time of the attack, which increases the risk.
While supply chain attacks are troubling, organizations must remember that they have the same overall effect as if cybercriminals had specifically attacked the business. The distinction is in how fraudsters choose to approach a company in the first place.
How Can You Prevent Supply Chain Attacks?
Attacks on the supply chain can be challenging to identify and prevent because they take advantage of organizations’ confidence in their suppliers. Fortunately, there are still methods companies may take to prevent or lessen the effects of a supply chain attack.
Thoroughly Evaluate Vendors
Businesses should thoroughly investigate a supplier’s security procedures before working with them or using any third-party tools or software. This entails looking into any security lapses the vendor may have encountered in the past and requesting the company to describe its security procedures.
Use a Model of Zero Trust
Businesses should request that their IT department use a zero-trust approach whenever possible. This restricts the kinds of activities carried out within a network because it presumes that no user or application should be trusted by default.
Implement Security Tools
Firewalls and antivirus software are examples of security solutions that may not always be able to stop supply chain attacks. They might be able to let you know if an attack is happening. For instance, firewalls may be able to identify and stop significant volumes of data from leaving a network, indicating a breach, but antivirus software can identify malware.
Conclusion
Attacks on the supply chain are likely to become more prevalent for firms. The SolarWinds hack, which is thought to have affected 18,000 clients and previous successful supply chain attacks over the past two years will probably lead to more imitative instances. Attacks on the software supply chain will also become a greater threat. The best strategy to safeguard your organization against the growing threat of supply chain assaults is to prepare by developing cybersecurity policies and creating incident response plans that allow you to take swift action if a supply chain attack affects your operation.
