In this digitally-driven world, cybersecurity is crucial for almost every business, including logistics. It has brought a significant change to the freight industry. From protecting any data breaches and unauthorized access to ransomware attacks, logistics companies take special measures to protect themselves from all these issues leading to financial loss, legal repercussions, or tarnished reputation.
With the growing risks of cyberattacks on shipping worldwide, it’s becoming essential for the freight industry to have a reliable and secure system to protect its freight from hackers.
This blog delves deep into the importance of cybersecurity in the logistics industry.
Understanding Cybersecurity Risks in Logistics
The freight forwarders have an extensive network of manufacturers, suppliers, transporters, and customers. This complex network contains important information regarding shipments, tracking details, and even business contracts, making it vulnerable to cyberattacks.
Common CyberAttacks in Past
That era is gone when hackers get the passwords and access the system. Cyberattacks have become more social nowadays. People send emails pretending to be their clients and asking about critical information or requesting to click the links that give access to the hackers in a way called phishing. In this way, hackers steal data through data breaches, resulting in the loss of intellectual property, financial information, or other major problems.
The biggest cyberattack happened to Maersk in 2017. It was hit by ransomware called NotPetya to disable Ukrainian shipping. The attack froze Maersk data across 76 ports, causing an estimated $ 10 billion in damage.
Another extensive cyberattack occurred in 2018 when a major logistics company, COSCO, was hit, and its communication systems were disabled. Luckily, they were able to restore its services and keep running its operations due to its robust cybersecurity culture.
For many examples, logistics companies need to prepare for cyberattacks to maintain their reputation and avoid huge losses.
Importance of Cybersecurity in Logistics
Incorporating cybersecurity in the logistics industry is crucial for building resilience and maintaining operational continuity during cyber threats. It is equally important for 3PL companies to preserve and protect sensitive data and the integrity of their business. Losing the trust of your customers due to data breaches and insufficient cybersecurity can adversely impact your business’s future.
Additionally, the government has clearly advised businesses to protect their consumer data and products while running their business operation; failing to do so leads to shutting down their business.
Companies should develop a robust cyber guard strategy by implementing a multi-layered defence approach with advanced technical controls, security policies, and user education. Fast n Accurate provides complete assurance of data and product protection to its clients by utilizing a proactive approach, advanced cybersecurity techniques, and prioritizing risk management.
Conclusion
Due to the increasing challenges of cyberattacks, the logistics industry must take a proactive approach and advanced cybersecurity measures. Shipping companies protect their critical data with end-to-end security solutions. Next time you ship goods across borders, ask your freight forwarder which data security measures it is taking to keep your data and goods secure.
