Ransomware Attacks in Manufacturing Doubled From 2019
From 2019 to 2021, ransomware attacks in manufacturing doubled, making it the most commonly targeted industry in 2020 and 2021, according to Advisen loss data. Advisen’s loss database contains 3,415 ransomware attacks and 189 ransomware attacks in manufacturing.
The manufacturing industry is a high-value target for ransomware attacks. Most manufacturers have embraced automation and digitization, but many only store files locally, leaving them vulnerable to attack.
Manufacturing companies also store high-value data, such as intellectual property and trade secrets, which makes manufacturers more likely to pay if their information is stolen or hackers threaten to publish it online. In some cases, hackers will steal data involving third parties as well, such as clients, suppliers and partners. This gives them even more leverage to extort money in a ransomware attack.
In addition to ransom payments, ransomware attacks on manufacturing can also be extremely costly in terms of response and business interruption costs. For example, the ransomware attack on meat supplier JBS Foods on May 31, 2021, resulted in a total shutdown of operations and an $11 million ransom, according to Advisen loss data.
Looking at ransomware losses by industry over time, public administration and health care were some of the most frequently targeted industries from 2013 to 2019; manufacturing accounted for a relatively small percentage of total ransomware attacks. However, by 2020, manufacturing became the most commonly targeted industry.
Within the manufacturing industry, computer and electronic product manufacturing saw nearly double the number of ransomware attacks than any other category at 32%. These attacks include ransomware attacks on an Apple supplier, Samsung Electronics and Bose Corporation, according to Advisen loss data.
Chemical manufacturing accounted for 14% of the remaining losses, while machinery manufacturing and transportation equipment manufacturing each accounted for 12%, according to Advisen loss data.
Contact INSURICA today to learn more about our manufacturing industry services and capabilities.
© 2022 Zywave, Inc. All rights reserved.
About the Author
Share This Story
Related Blogs
Flexible Compensation: A Necessary Evolution
In today’s fast-evolving job market, flexible compensation is redefining how companies attract and retain talent. Traditional pay structures, once seen as stable and predictable, are now losing appeal, particularly among younger professionals who prioritize personalized benefits over rigid salary scales. While flexible compensation models have gradually emerged since the early 2000s, the post-pandemic work era has rapidly accelerated their adoption—driven by shifting workforce expectations, economic volatility, and the rise of remote work and gig employment.
Balancing Employee Wellbeing and Financial Pressures
In today’s economic climate, businesses are facing rising costs and inflationary pressures, leading to a fundamental reassessment of employee benefits programs. While mental health and wellbeing initiatives remain a priority for employers, there is a growing demand for measurable impact and cost-efficient solutions rather than superficial perks. As companies strive to balance budget constraints with competitive benefits, the future of workplace wellness is shifting toward strategic, high-value programs that support employee health without breaking financial sustainability.
How Businesses Are Using Data Analytics to Optimize Employee Benefits Engagement
In today’s competitive job market, businesses are increasingly leveraging data analytics to enhance employee benefits engagement, ensuring that workers fully utilize available resources. Traditional benefits programs often suffer from low participation rates due to lack of awareness, complexity, or misalignment with employee needs. By integrating data-driven insights, companies can personalize benefits offerings, improve communication strategies, and maximize employee satisfaction while optimizing costs.