AIG report shows impact of cyber risk to manufacturing

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AIG report shows impact of cyber risk to manufacturing

The manufacturing sector, which comes third after government systems and finance in terms of cybercrime vulnerability, has some new data to ponder if it intends to address cyber risk head on.

The cybersecurity report, released today by EEF (the manufacturers’ organisation) and insurer AIG, zeroed in on where manufacturers in the UK currently stand in their fight against cybercriminals. And findings didn’t paint a rosy picture for the industry which employs 2.6 million people.

Described by EEF chief executive Stephen Phipson CBE as among the least protected against cyber threats, the manufacturing sector isn’t too confident about how it stacks up against possible attacks. The survey, conducted by The Royal United Services Institute (RUSI), found that 41% of firms do not believe they have access to enough information to even assess their true cyber risk.

In addition, 45% feel that they do not have the right tools at their disposal. In fact, according to the study, 48% of manufacturers reported having been subject to cyberattack – about half of which cited accompanying losses. The figures do not include businesses that might not even be aware of…

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