Leading crane and lifting manufacturer, Palfinger, has been targeted in a cyberattack that disrupted IT systems and business operations. The company is based in Austria with over 11,000 employees in over 35 locations, generating €1.75 billion in revenue for 2019.
Andrea Carcano, Nozomi Networks, said: “In the manufacturing business, time is money, so the disruption of Palfinger’s IT services, as well as order processing and shipment delays, translates to lost revenue. The single biggest threat to enterprises today is underestimating and failing to address cybersecurity across all of a company’s cyber and physical systems. Attackers are going after higher value targets and that includes operational networks. The remediation costs and efforts to repair the operational, financial and reputational damage caused by these attacks put a significant strain on leadership teams.
“IT and OT systems are converging and security teams need to take a new, holistic approach to cybersecurity. Businesses should deploy artificial intelligence and machine learning tools across their IT/OT networks to gain real-time visibility and identify cyber threats and resolve issues before harm is done. We know from working with thousands of industrial installations, that with the right technology and a focus on best practices, it’s possible to monitor and mitigate these risks and achieve operational resiliency. A robust cyberdefence strategy is the best line of defence against sophisticated attacks.”