Study: Cybersecurity Jumps to the Top of Manufacturers’ Biggest Risks
CHICAGO — As data and connectivity transform the industry, manufacturers’ intellectual property, data and products have become prime targets for cybercriminals. More than nine in 10 manufacturers (92 percent) cite cybersecurity concerns in their SEC disclosures this year, according to a new report from BDO USA, an accounting and consulting organization. That represents a 44 percent jump from 2013—and the first time in BDO’s analysis that cyber risk ranks among manufacturers’ top 10 risk factors.
Smart, connected products and processes make for vast amounts of data and more network entry points for bad actors. BDO’s 2016 Manufacturing RiskFactor Report, which analyzes the latest 10-K filings from the largest 100 publicly traded U.S. manufacturers across five key subsectors, reveals that 91 percent also cite operational infrastructure risk, including information systems and implementation of new systems and maintenance.