Protecting your organisation from supply chain threats
In recent years, supply chain threats have become a significant concern for organisations across all sectors. Cybercriminals increasingly target vulnerabilities within third-party systems to gain unauthorised access to valuable data. The consequences of these breaches can be severe, with multiple companies being affected by just one successful hack. This article delves into the rising threat of supply chain vulnerabilities and explores the importance of taking proactive measures to secure your organisation’s supply chain.
The Okta breach: a case study
One of the most recent supply chain breaches involved identity and access management provider Okta. In this attack, cybercriminals exploited stolen credentials to gain unauthorised access to Okta’s customers’ sensitive information. What made this breach particularly alarming was the fact that the hackers used the credentials of an access management provider, making their activities seem legitimate. Okta’s nature of business, which involves providing access to multiple customers’ infrastructure, made it an attractive target for cybercriminals.
Unfortunately, this was not the first time Okta fell victim to a supply chain attack. In 2022 alone, the company experienced two breaches, highlighting the persistent threat posed by cybercriminals. In a cruel twist of fate, Okta also suffered as an end victim of a supply chain attack when its healthcare benefits partner, Rightway Healthcare, was hacked, resulting in the exposure of Okta employees’ details. These incidents serve as a wake-up call for companies across all sectors, emphasising the urgent need to address supply chain vulnerabilities.
The Public Sector targeted
The public sector is not immune to the growing threat of supply chain hacks. A recent example involved 70 German municipalities that fell victim to an attempted ransomware attack. An unknown hacker group specifically targeted and encrypted the servers of Süwestfalen IT, a municipal service provider. To contain the malware’s spread, access to the infrastructure was restricted. While this measure prevented further damage, it severely impacted local government services. Payments, including salaries, social assistance, and transfers from the nursing care fund, were delayed due to the attack.
These incidents highlight the increasing prevalence of supply chain hacks across various sectors. No company or organisation can afford to underestimate the potential threat of vulnerabilities within their supply chain. The ramifications of a successful attack can be far-reaching, affecting not only the targeted organisation but also its partners and customers.
Understanding the effectiveness of supply chain hacks
AJ Thompson, CCO at Northdoor plc, describes the reasons behind the effectiveness of supply chain hacks:
“One successful breach into a company can gain access to multiple companies’ data, often without the end victim knowing that they’ve even been attacked. The recent examples of both private and public sector breaches underscore the need for all organisations to be vigilant and take proactive steps to secure their supply chain.”
The importance of visibility and vulnerability assessment
To effectively protect against supply chain threats, organisations must have a comprehensive view of their entire supply chain. This visibility enables them to identify potential vulnerabilities within their partner network and take corrective measures. Traditional methods of assessing a partner’s system security, such as questionnaires, are no longer sufficient. Instead, companies must seek alternative solutions that provide real-time insights into potential access points for cybercriminals.
Some organisations are turning to AI-powered solutions that offer a 360-degree view of their supply chain. These advanced tools leverage machine learning algorithms to analyse vast data, identifying patterns and anomalies that may indicate potential vulnerabilities. By adopting such solutions, organisations can proactively address supply chain weaknesses and significantly reduce the risk of breaches.
Steps to strengthen your supply chain security
Protecting your organisation from supply chain threats requires a strategic and proactive approach. Here are some essential steps to strengthen your supply chain security:
1. Conduct a comprehensive Risk Assessment
Begin by conducting a thorough risk assessment of your supply chain. Identify all potential vulnerabilities and prioritise them based on their potential impact. This assessment should encompass all levels of the supply chain, including suppliers, service providers, and third-party vendors.
2. Establish strong security standards
Collaborate with your partners to establish robust security standards that align with industry best practices. Ensure all parties involved adhere to these standards and regularly evaluate their compliance. This includes implementing multi-factor authentication, encryption protocols, and secure data transmission practices.
3. Implement continuous monitoring
Deploy advanced monitoring tools that provide real-time visibility into your supply chain. These tools should enable you to detect and respond to potential threats promptly. Regularly monitor network traffic, user access logs, and system behaviour to identify suspicious activities.
4. Foster a culture of cyber security awareness
Educate your employees and partners about the importance of cyber security and the role they play in safeguarding the supply chain. Conduct regular training sessions to raise awareness about common threats, such as phishing attacks, and provide guidance on best practices for data protection.
5. Develop Incident Response Plans
Prepare comprehensive incident response plans that outline the steps to be taken in the event of a supply chain breach. Ensure that these plans include procedures for communication, containment, and recovery. Regularly test and refine these plans to ensure their effectiveness.
6. Establish redundancy and Backup Systems
Maintain redundancy and backup systems to minimise the impact of a supply chain breach. Regularly back up critical data and systems to off-site locations or secure cloud environments. This ensures that you can quickly recover and resume operations in the event of an attack.
7. Foster strong relationships with partners
Develop strong relationships with your partners based on trust and open communication. Regularly engage with them to discuss security measures, share threat intelligence, and address any concerns. Collaboration and mutual support are essential in maintaining a secure supply chain.
Cost-effective supply chain security solutions
Implementing comprehensive supply chain security measures can be a complex and resource-intensive task. However, partnering with a trusted managed service provider can offer significant benefits, including cost-effective solutions and expert support. Northdoor offers a managed cyber service that can enhance your supply chain security while maintaining cost control.
Northdoor’s cost-effective service provides continuous monitoring, 24/7 reporting, and comprehensive cyber risk management. Our expertise in the IT and cyber security sector ensures that your business is protected from evolving cyber threats. By implementing their monitoring solution and independently assessing supply chain cyber risk, you can proactively identify vulnerabilities and mitigate potential threats.
To learn more about how Northdoor can help you secure your supply chain and arrange a free initial consultation, contact us at info@northdoor.co.uk or by phone at 020 7448 8500.