Why supply chain vulnerabilities are your biggest blind spot
A new industry survey has revealed the growing threat of supply chain vulnerabilities to global businesses, with one in seven companies now experiencing at least one full day of operational disruption due to cyber events. This alarming statistic highlights the increasing sophistication of cybercriminals who are rapidly shifting their tactics to exploit the weakest links in business ecosystems.
The comprehensive survey also uncovered a troubling trend: successful, significant cyber incidents rose 42 percent across Europe and North America between 2023 and 2024. This surge in attacks comes as organisations struggle to adapt their security strategies to an evolving threat landscape.
A 431% surge in supply chain attacks: what’s behind the trend?
While many businesses have invested heavily in strengthening their frontline defences and addressing employee-related security risks, cybercriminals have responded by targeting supply chain partners instead of attacking primary targets directly. This strategic shift allows attackers to bypass traditional security measures by accessing target systems through trusted third-party connections.
The most startling finding reveals that between 2021 and 2023, supply chain cyber attacks increased by an extraordinary 431 percent—a trend security experts predict will continue accelerating through the coming year.
Recent high-profile attacks in the retail sector demonstrate how devastating these incidents can be. Beyond immediate operational disruption, successful attacks impact share prices, damage corporate reputation, and potentially compromise regulatory compliance.
Expert insight: whthe growing supply chain security challenge
AJ Thompson, CCO at Northdoor plc, provides context to these findings: “This latest survey provides some disturbing, but perhaps not surprising figures, about the increasing threat to businesses from cybercrime. The number of high-profile attacks we have seen this year certainly point to this, but they also somewhat cover-up the daily impact on thousands of businesses everyday from cybercrime.”
AJ emphasises the widespread nature of the problem: “With one in seven companies suffering at least one day of disruption because of a cyber event, the chaos caused by one event is clear. The fact that these attacks are becoming more numerous and sophisticated has to be a cause for concern for all businesses.”
The complexity of modern supply chains creates significant security challenges. “Add to this the fact that cybercriminals are increasingly looking to attack supply chains to hit their primary target, the ability for companies to protect themselves looks a daunting one. The nature of modern supply chains means that they are often large and complex, with multiple partners having access into systems. Traditional methods of identifying where vulnerabilities might lie within supply chains have relied on questionnaires sent to potential and current partners asking for details of their cyber defences. This is no longer an effective or suitable method to ascertain where risks might lie as it relies entirely on the honesty and knowledge of individuals.”
Moving beyond traditional security approaches
The survey findings suggest that conventional security assessments are increasingly inadequate for today’s threat landscape. Organisations need more sophisticated tools to evaluate third-party risk across their entire supply chain.
“Gaining an accurate picture of what third party, or even fourth party defences look like, seems an impossible task. However, some are turning to new, AI powered solutions that give a 360-degree view of where vulnerabilities might lie within a supply chain. This allows conversations with partners to take place, ensuring any such vulnerability is closed before it is exploited.”
These advanced solutions enable organisations to proactively identify and address security gaps before they can be exploited, transforming what appears to be an overwhelming challenge into a manageable process.
Proactive supply chain security
As supply chain attacks continue to rise, organisations must adapt their security strategies accordingly. AJ concludes with a call to action: “The threat from cybercriminals is growing all of the time. They will always try to find the path of least resistance and so moving to the supply chain to begin their attacks has been particularly successful. It is now imperative that companies react to this and begin to take this threat seriously. Using software that allows a full and accurate view of where vulnerabilities lie can turn what seems an impossible task into an achievable one, ensuring data, systems and regulatory compliance are protected.”
The survey findings serve as a wake-up call for businesses to reevaluate their approach to supply chain security. As cybercriminals continue targeting the path of least resistance, organisations must recognise that their security is only as strong as the weakest link in their supply chain.
To learn more about how we can address your specific needs in managing third-party cyber risk, email us to arrange a free initial consultation.