The critical need for watertight security across the IT supply chain
Posted by:
Emma Walker
Cybercrime remains a pressing global issue with cybercriminals employing increasingly sophisticated tactics to compromise data and disrupt IT systems. Statista forecasts a rise in cybercrime costs from $9.22 trillion in 2024 to $13.82 trillion by 2028, emphasizing the need for stronger cybersecurity measures. An emerging concern is the IT supply chain, with hackers exploiting vulnerabilities in third-party components. Recent incidents underscore the urgency to enhance security in both software and hardware supply chains. Attacks like SolarWinds have exposed the susceptibility of supply chains, prompting a 431% surge in supply chain cyberattacks since 2021. Regulators are introducing measures like the EU NIS2 Directive to standardize supply chain security. Enterprises must vet suppliers, conduct audits, and implement contractual security requirements to mitigate risks. Integrating technologies like Gen AI can enhance monitoring and tracking of components throughout the supply chain, ensuring heightened security. As organizations face escalating cyber threats, investing in supply chain security is crucial to safeguard data and maintain operational integrity.
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