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Tech Wisdom: Beating Cyber Risks

Ongoing digitalization of ports is predicted to result in even more complex and networked IT systems, impacting on the ability to manage cyber threats, according to a recent paper. 

This paper was based on research by Scientific Researchers Claudia Bosse and Martin Stamer of German institute Fraunhofer Center for the Maritime Logistics and Services.

Greater numbers of electronic interfaces to business partner systems in supply chains may mean cyber risks for supply chains cannot be supervised and controlled by a single company. 

A global study among risk managers and risk experts rated cyber incidents as the third highest business risk worldwide.  In Europe cyber risks are rated as the second highest and in Germany as the highest business risk.

A Verizon study found more than 80% of the cyber threat incidents involve use of stolen or weak passwords.

Existing solutions that can prevent threats if applied across the whole industry, however, may be ignored if they are not publicized.

“If a new vulnerability gets detected and disclosed to the public, normally appropriate counter measures soon follow, but a large amount of users seem not to effect the publication of the vulnerability as well as of the counter measures. For example, the aforementioned WannaCry attack affected large organizations worldwide even though a patch and a very convenient counter measure was published nearly a month before. “

Facilitating the exchange of vulnerability and risk information, project partners of MITIGATE (Fraunhofer, University of Piraeus Research Center, Austrian Institute of Technology, Maggioli, SingularLogic, Valencia Port Foundation, Ports of Piraeus, Ravenna, Livorno and Bremen, dbh Logistics IT, and the University of Brighton: The project receives funding from the European Commission) have developed a solution which allows ports, logistics or administration companies to check the software, hardware and gateways they use for vulnerabilities of cyber-attacks. 

Their cloud-based, open simulation environment enables the participating companies to collaborate in spotting and analyzing risk scenarios

Read the entire Technical Paper on PTI's website: Detect and Control Cyber Risks

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