A new growing threat for the shipping industry

Cyber-securityNew technologies have opened up new opportunities for the criminals; shipping is now entering the age of cyber crime.

The threat of cyberattacks in shipping and the supply chain is an issue that has already been highlighted by experts. The IMB has called for vigilance; for systems managing the movement of goods to be strengthened and action to be taken to close down cyber vulnerabilities in those sectors.

The threat of cyber-attack has intensified in the past , with cyber security experts and the media alike warning of the dangers posed by criminals targeting carriers, ports, terminals and other transport operators.

According to a recent article by The Daily Star, victims often try to keep successful hacks a secret. The reason for this is that the maritime companies value their reputation more than the money they actually lose. Also, cyber criminals are stealthy and in many cases companies are unaware they have been hacked.

Ninety percent of the world's freight goes by sea. Each hack can cost millions of dollars to ship owners, and in some circumstances even wrack the national economy. Breaking into key container terminals, criminals can bring down the operation of regional and national supply chains. E.g., the British government has revealed that cyber attacks cost the UK oil and gas industry about 400 million pounds ($672 million) a year.

You may read full article by at The Daily Star website.

Also, find more information on the threat of cyber security for the shipping industry below: