Five security trends manufacturers need to be aware of
In fact, 41% of manufacturing companies admitted to suffering a mobile-related compromise with 67% of those saying the impact was major -Verizon Mobile Security Index 2020.
The reason for that has to do with the way the Manufacturing industry operates. The industry relies on mobile devices and cloud solutions to effectively transition products from the design studio to the shop floor. Providing plenty of opportunities for ill-intentioned hackers to access valuable data.
Five security threat trends manufacturers need to be aware of:
1. Mobile phishing and malware on the rise Mobile phishing is the primary way malicious actors trick people into downloading malware. Tactics have evolved beyond email phishing to target users via SMS and messaging applications such as WhatsApp or Messenger, even dating apps. An analysis of nearly 200 million devices carried out by Lookout suggests that Manufacturers in Europe are 46% more likely to encounter a phishing attack than their peers in the rest of the world. .
2. The shift to remote work creates new risks
23% of organizations said cybersecurity incidents have increased since transitioning to remote work, according to the cybersecurity firm (ISC)². More personal devices than ever before are connecting to company networks. And because all of us are using mobile devices for both personal and professional purposes – any attack on a personal device is a threat to the organization’s data. .
3. Digital safety concerns in a cloud-driven world Manufacturers have embraced software-as-a-service (SaaS) for productivity and collaboration. The benefits are many however, it has opened sensitive data up to greater cyber risk. Credential abuse is the top attack-vector for SaaS and cloud apps. In fact, a survey by Osterman Research highlights that 40% of organizations say their Microsoft Office 365 account credentials have been compromised. .
4. Third-party risk
The more, the risker. An expansive supply chain puts manufacturers at greater third-party risk. According to a recent report from Deloitte, 28% of manufacturers admitted to having a security breach involving 3rd party data. .
5. Protecting Intellectual Property
The manufacturing industry remains one of the primary targets for mobile attack due to highly valuable intellectual property (IP). 87% of manufacturers are concerned about competitors or cybercriminals stealing their trade secrets or intellectual property according to the Verizon Mobile Security Index, 2020. .
Every smartphone and tablet should be treated as a potential source of threat. Whether it is in the hands of an engineer, a business development executive, or the HVAC service person. Adopting a security solution that adheres to a Zero Trust model, whereby the health of all mobile devices are monitored in real-time, will ensure your organization’s data is secure. Lean how you can mitigate the risk of a data breach from a mobile device at
New government strategy to put UK ahead in global innovation
The UK government’s plans to increase private sector investment into elevating the UJ’s position in the global innovation race have been outlined in a new Innovation Strategy developed and launched by the business secretary, Kwasi Kwarteng. The strategy is part of the government’s “long-term vision” to boost private sector investment in R&D across the UK, enabling tech companies such as mobile networks to create new technologies.
While the private sector is important in boosting R&D spending, the government says that the UK “is still committed” to increasing annual public investment in Research and Development with the aim of reaching a record US$30.2bn (£22bn).
What will the Innovation Strategy allow the UK government to do?
By adopting the Innovation Strategy, the government claims it will be able to achieve several other goals. These include:
- Ensuring government procurement is proactive and supportive, providing a route to market for innovative new products and services
- Consulting on how regulation can ensure that the UK is well-placed to extract the best value from innovation
- Commissioning the Regulatory Horizons Council to consider how best to support innovation through regulation, including looking whether there are a set of high-level guiding principles for regulation that may apply broadly to any sector of innovation
- Introducing new High Potential Individual and Scale-up visa routes, and revitalise the Innovator route to attract and retain high-skilled, globally mobile innovative talent
- Undertaking an independent review to assess the landscape of UK organisations undertaking all forms of research, development and innovation
- Reducing complexity for innovative companies by developing an online finance and innovation hub between Innovate UK and the British Business Bank within the next 12 months
- Expanding IP education programme for researchers and launch International IP Services to bolster innovative companies’ and researchers’ ability to confidently collaborate, export and invest overseas
- Publishing of a new action plan on ‘Standards for the Fourth Industrial Revolution’, promoting standards that enable innovation to flourish
- Investing £200mn (US$275mn) through the British Business Bank’s Life Sciences Investment Programme to target the growth-stage funding gap faced by UK life science companies
- Supporting 30,000 senior managers of small and medium-sized businesses through Help to Grow: Management to boost their business’s performance, resilience, and long-term growth
Business secretary Kwasi Kwarteng said in a statement that “the UK can look back on a proud history of changing the world through innovation. From the industrial revolution to the vaccine development of the past year, the impact on our everyday lives is undeniable.
“That spirit of discovery is still alive in this country today, but we have not always turned our genius for innovation into jobs and companies here in Britain.
“The countries that secure leadership in such transformational technologies will lead the world, enjoying unrivalled growth, security and prosperity for decades to come – and it’s our job to ensure the UK keeps pace with the global innovation race”.
The organisation added that through the long-term plan, it aims to “rekindle our country’s flame of innovation and discovery”, and to aid businesses in taking the “vast opportunities” brought about by innovation.
“If we get this right, we can build the foundations for the new industries of tomorrow, and ensure British firms are at the front of the pack to turn world-leading science into new products and services that are successful in international markets”, the organisation concluded.
To implement the strategy, the government plans to work with universities and research organisations with five projects receiving part of £127mn capital injection through the Strength in Places Fund, which is delivered by UK Research and Innovation (UKRI).
In addition to the Strength in Places Fund, £25 million of funding for the Connecting Capability Fund will help drive further economic growth through university-business innovation.