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Cybersecurity And The Supply Chain: 5 Questions For Your Transportation & Logistics Providers
What keeps senior executives awake at night? If you said cybersecurity, you’d be right.
Over 85% of Canadian companies report that they’ve been impacted by cybercriminals in the past year (source: PacketLabs). And while the average cost of a data breach to firms is $6 million (source: IBM), some high-profile hacks have cost firms upwards of $50 million in response costs and lost business. And this doesn’t include ransoms that have been paid (and are never publicly reported).
And according to the industry publication Truck News, “…one can hardly blame hackers for targeting the trucking industry. Trucking is a high-dollar (if low-margin) business; firms generally have weak IT policies and management (too few people handling too many IT functions); they’re reticent to invest in modern equipment (computers and network gear – not trucks and trailers); staff receive minimal security training; and trucking companies aren’t all that worried about cyberattacks to begin with.” (source: Truck News, November 10, 2023)
If your company is investing time and money beefing up your cybersecurity profile, make sure you include your supply chain partners as part of this program. Transportation and logistics providers should have equally strong security programs in place to ensure that your data is protected, and your supply chain is not brought down by their shortcomings.
Here are five questions we recommend you ask your supply chain partners to test their prevention and response capabilities:
Do you follow cybersecurity standards such as NIST, ISO, or COBIT?
What cybersecurity tests are you undertaking and how often?
How will my data be protected?
Do you have a mature incident response plan in place, including customer incident notification service level agreements?
Do you have cybersecurity insurance, and who is the carrier?
We’d be happy to share more about our cybersecurity prevention and response profile. Contact us if you’d like more information, or to speak directly to one of our IT cybersecurity specialists.
