InsurTech Center

Managing supply chain cyber risks

There are a number of factors fueling the rise in supply chain attacks, such as victims being more willing to pay ransoms, escalating international tensions, larger and more interconnected networks, and the ease of anonymous payments through cryptocurrency.

By Michael Orenstein | March 07, 2023 at 12:05 AM

A warehouse with boxes on shelves.

Supply chain attacks have become more frequent in recent years, with a growing number of ransomware attacks being reported globally. These attacks have become more sophisticated, targeting the shipping and transport industry, seaports, food networks, water supplies, fuel distribution systems, hospitals and city governments. Smaller organizations that lack the resources to implement robust cybersecurity measures are particularly vulnerable to these forms of attacks. There are a number of factors fueling the rise in supply chain attacks, such as victims being more willing to pay ransoms, escalating international tensions, larger and more interconnected networks, and the ease of anonymous payments through cryptocurrency.

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