Only 45% of Aussie Orgs Share Ransomware Knowledge With Suppliers
Alarmingly, only 45% of Australian organizations share knowledge about ransomware attacks with their suppliers, according to new research. This lack of communication is putting businesses at risk, with 68% of IT leaders believing their partners and customers are making their own organization more attractive to ransomware attacks. Trend Micro's latest study reveals Australian organizations are increasingly at risk of ransomware compromise via their supply chains.
The study found that 48% of Australian organizations have had a supply chain organization hit by ransomware, putting their own systems at risk. This is a significant concern, as detection rates for ransomware activities are worryingly low, with initial access detected only 53% of the time. To mitigate these risks, organizations should gain a comprehensive understanding of their supply chain and regularly audit high-risk suppliers.
Organizations should also enforce high security standards, such as multi-factor authentication and network segmentation, and share threat information with partners and suppliers. However, only 55% of organizations are currently doing this. Additionally, 25% of Australian organizations don't share potentially useful threat information with partners, further exacerbating the problem. In 72% of cases where an organization experienced a ransomware attack in the past three years, attackers contacted customers or partners to force payment, highlighting the need for better communication and cooperation within the supply chain.
The findings underscore the urgent need for Australian organizations to improve their cybersecurity management within the supply chain. While initiatives like the Trusted Information Sharing Network (TISN) exist to enhance the security of critical infrastructure, more needs to be done to foster communication and cooperation between organizations. By understanding their supply chain, enforcing high security standards, and sharing threat information, Australian organizations can better protect themselves and their partners from ransomware attacks.
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