Kaspersky says supply chain attacks emerge as top threat for companies

ISLAMABAD: A study by a global cybersecurity company revealed that the supply chain attacks have emerged as a top threat for businesses/companies, with every third organisation hit by such an attack over the past year.

Kaspersky’s new study on supply chain and trusted relationship risks identified the lack of qualified IT security workers and the need for global organisations to prioritise various security tasks to mitigate the risk of supply chain and trusted relationship attacks. Both factors are cited by nearly half (42pc) of the respondents.

According to the survey, one of the key barriers to reducing supply chain and trusted relationship risks is the lack of a qualified workforce. Among other primary obstacles, respondents noted the need to juggle multiple cybersecurity priorities. This reflects the fact that security teams are stretched across too many tasks at once, which might leave supply chain threats unaddressed.

Beyond resource constraints, respondents also point to structural issues: 39 percent say their contracts lack clear IT security obligations for contractors. Further 32 percent note that non IT security staff often do not fully understand these risks.

Globally, according to the survey, an overwhelming 85 percent of businesses admit their organisations need to upgrade protection against supply chain and trusted relationship risks, with only 15 percent of enterprises considering their current security measures effective.

At the same time, the results of the survey showed that current mitigation practices for third-party risks remain fragmented, with no way of protection getting more than 40 percent of current adopters. Even the most common protective measure, two-factor authentication, is used by only 38 percent of respondents. In addition, only 35 percent of organisations conduct regular reviews of contractors’ cybersecurity postures. As a result, nearly two thirds of businesses lack ongoing visibility into the security of their partners, leaving them exposed to evolving vulnerabilities across their ecosystems.

It’s noteworthy, that companies that have already experienced supply chain and trusted relationship attacks, tend to adopt stronger security habits. Those hit by supply chain incidents are more likely to request penetration test results (56pc), while victims of trusted relationship breaches prioritise checks on compliance with industry standards (56pc) and their contractors’ own supply chain policies (53pc), the survey added.