Several areas have been impacted by the growth of cyber attacks and the automotive industry is not free from this risk. According to the Automotive Cyber Security report by Upstream Security, there has been a 605% increase in the number of cyber attack cases to the industry since 2016.
The industry has observed the growth in the number of attacks and how they are carried out. According to Yoav Levy, CEO of Upstream Security, last year over 80% of attacks on connected vehicles were done remotely.
In addition, the report also points out the objective of the hackers' actions, such as disrupting negotiations, stealing data, and demanding ransom from the victims.
Thus, the red alert has been turned on for automakers and the topic of cybersecurity has become one of the priorities.
But why is the automotive industry increasingly becoming a target for such attacks? Why not find out together?
Why has the automotive industry become a target for hackers?
Cars are becoming more and more developed, and the ability to connect to the Internet has also increased the risks. As a result, the digital security of automobiles can prove increasingly vulnerable to cyber attacks.
As organizations become increasingly global, data chains also become more complex. This can cause sensitive data to become vulnerable, leaving partners, employees, and users exposed.
As a result, the industry becomes increasingly attractive for attacks, especially so-called ransomware. This type of attack is the most lucrative for criminals, as it makes ransom demands possible.
Vulnerabilities in the automotive industry
According to S21sec, last year there were 41 ransomware attacks against the automotive industry. Thus, the companies' databases may have been compromised.
According to S21sec specialist Hugo Nunes, the sale of confidential data to third parties causes several problems, such as loss of reputation, large financial losses, and failure of the brands' internal security.
In addition, people's lack of awareness contributes to the growth of cyber attacks, since many of them do not know how to act when faced with a threat.
As such, it is possible to identify possible entry points for criminals and industry vulnerabilities. But what are the consequences of attacks?
What are the consequences of a cyber attack on the automotive industry?
The consequences can range from a loss of reputation to a range of financial losses. In this way, we can mention the case that happened with a brand specialized in the production of wheels and components that suffered a hacker attack, suspending some activities of the organization.
Another case occurred recently in an automotive industry that had to stop its production for a day because it was the victim of a cyber attack.
In addition, there was a data leak at one of the largest suppliers to the automotive industry, where hackers put data up for sale at a price of $50 million.
If there are no changes in the actions and security of the entire network in the industry, the attacks will continue to increase and so will the consequences.
What are the consequences of a cyber attack on the automotive industry?
The consequences can range from a loss of reputation to a series of financial losses. In this way, we can mention the case that happened with a brand specialized in the production of wheels and components that suffered a hacker attack, suspending some activities of the organization.
Another case occurred recently in an automotive industry that had to stop its production for a day because it was the victim of a cyber attack.
In addition, there was a data leak at one of the largest suppliers to the automotive industry, where hackers put data up for sale at a price of $50 million.
If there are no changes in the actions and security of the entire network in the industry, the attacks will continue to increase and so will the consequences.
Possible solutions to attacks on the auto industry
There are solutions to decrease attacks on the automotive industry, such as creating security policies and raising people's awareness.
Making people aware is the first step in creating a security barrier. This way people will know how to act if they are faced with a cyber threat.
In addition, people need to be aware of what data leakage is. In this way, they will be able to identify possible problems they can cause and the care they need to take in order not to compromise the security of the entire organization.
For this reason, automotive industries need to elevate the security of their systems to combat attacks. To do this, it is necessary to create a security culture within these organizations, making everyone contribute to the protection against cyber attacks.
Prioritize People Awareness
Now that we know why the automotive industry is one of the main targets of cyber attacks, we need to know how to reduce these risks.
To do this, you need to think of information security as an investment, building a culture of protection within organizations. In this way, you can reduce cyber risks through protection tools. You can also use people's awareness of the threats in the virtual world to decrease their vulnerabilities.
And that's where PhishX can help you create a culture of security within your organization. The PhishX ecosystem helps your team implement the awareness program by facilitating any type of campaign, from training to triggering and tracking policy sign-off.
To that end, enlist our team's help in reducing cyber risks within your organization. Contact our sales team now.
