LastPass, a global leader in password management, is calling for organisations to take urgent action to improve supply chain vulnerability. Ransomware and supply chain attacks continue to threaten businesses worldwide and the results from a single attack could be devastating, causing halts in production, monetary loss or even reputational damage.
While it’s been a volatile year, LastPass anticipates that cybercriminals will continue to target supply chains and third-party organisations. In a recent report carried out with IDC, LastPass revealed that 93% of cyberattacks come from financially motivated organised crime actors. The most frequent data compromised is credentials (44%), while more than half (57%) of threat actors are external.
“Supply chains are an easy and high rewarding target for hackers,” said Dan DeMichele, Vice President of Product at LastPass. “The most recent Lapsu$ attacks are a prime example as supply chain breach fears grow, not to mention the catastrophic attacks on Colonial Pipeline, SolarWinds and the Microsoft Exchange over the past few years.
“Businesses are in a vulnerable state and it serves as a strong reminder of why managing cyber supply chain risks is essential to securing organisations and their networks effectively. We must also remember that the risk is not singular and other organisations within your ecosystem are also vulnerable.”
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