Security Risks of Outdated Software
The research shows that IT decision-makers in the manufacturing sector are particularly concerned about malicious malware attacks (56%), followed by phishing attacks (49%) and unauthorized access by unaware employees (45%). This may indicate that manufacturers are more worried about nation state threats aimed at disruption and unplanned downtime than about potentially paying ransom.
Financial Consequences
These security risks also have financial consequences. The research revealed the following:
- 65 percent of IT decision-makers in the manufacturing sector believe that the cost of a cyber breach is $250,000 or less.
- Almost half (47%) of respondents estimate that business downtime represents only a tenth of those costs, while 63 percent point to cyber incidents that lead to customer loss or affect relationships with suppliers (59%).
- Notably, 68 percent indicate that the OT infrastructure is difficult to secure and 86 percent admit that essential tools run on outdated and unsupported operating systems.
"Over the past year, three cybersecurity trends have significantly impacted OT and IoT infrastructure: ransomware attacks, phishing attacks, and vulnerabilities in third-party software. Cybersecurity has become a major barrier to progress. Managers who continue to work with outdated hardware and operating systems face the challenge of aligning security for both old and new systems to ensure cyber safety. With outdated and standalone equipment, it is difficult to protect these environments. But it is not impossible," says Shishir Singh, Chief Technology Officer, Cybersecurity at BlackBerry.
Join Shishir Singh, CTO, Cybersecurity at BlackBerry, on April 19, 2023, at 6:30 PM for the LinkedIn Live event to discuss the highlights of the report.
* Research conducted in March 2023 by Coleman Parkes on behalf of BlackBerry among 1,500 IT decision-makers and cybersecurity professionals in North America (US and Canada), the United Kingdom, Germany, Japan, and Australia.
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