Intelligent CIO North America Issue 22 - Page 53

FEATURE : RANSOMWARE

Manufacturing felt brunt of cyberattacks in 2021 as supply chain woes grew

IBM Security research reveals that the manufacturing industry was the most targeted by ransomware and vulnerability exploitations in 2021 , in its annual X-Force Threat Intelligence Report .

IBM Security has released its annual X-Force Threat Intelligence Index unveiling how ransomware and vulnerability exploitations together were able to ‘ imprison ’ businesses in 2021 further burdening global supply chains , with manufacturing emerging as the most targeted industry .

While phishing was the most common cause of cyberattacks in general in the past year , IBM Security X-Force observed a 33 % increase in attacks caused by vulnerability exploitation of unpatched software , a point of entry that ransomware actors relied on more than any other to carry out their attacks in 2021 , representing the cause of 44 % of ransomware attacks . chains with attacks on manufacturing , which became 2021 ’ s most attacked industry ( 23 %), dethroning financial services and insurance after a long reign .
Experiencing more ransomware attacks than any other industry , attackers wagered on the ripple effect that disruption to manufacturing organizations would cause their downstream supply chains to pressure them into paying the ransom .
An alarming 47 % of attacks on manufacturing were caused due to vulnerabilities that victim organizations had not yet or could not patch , highlighting the need for organizations to prioritize vulnerability management .
The 2022 report details how in 2021 ransomware actors attempted to ‘ fracture ’ the backbone of global supply
The IBM Security X-Force Threat Intelligence Index
2022 maps new trends and attack patterns IBM
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