Supply chain cyber risk


Supply chain cyber risk is at record high levels. Peregrine Storrs-Fox, risk management director at TT Club, has warned: “Perhaps the greatest challenge with cyber risk is that it is a new and ever-changing paradigm, for which existing or historic models may be inadequate. The uncomfortable realities are twofold: firstly, the interconnected infrastructure on which global businesses rely is inherently insecure and, secondly, human nature and ingenuity is at once the greatest strength and the greatest weakness. The intermodal supply chain is particularly exposed, since it is increasingly reliant on IT linking offices between different countries in each individual organisation, depending on interactions with multiple third-party stakeholders and often operating on custom-built/proprietary applications, where security protocols may not be alert to recent vulnerabilities.”