In light of the substantial cost of last year’s cyber attack on Maersk and other institutions, the British International Freight Association (BIFA) is urging its members to review their cyber security policies.
The cyber attacks have revealed the scale of impact that security breaches can have on global logistics and supply chains, with the physical cost of rectifying the problems incurred at Maersk reported to be around USD300 million.
Robert Keen, director general of BIFA said: “With businesses continuing to push for digitisation and connected systems, it is impossible to deny the rising importance of cyber security for global supply chains.
“BIFA takes advice from various experts on this matter and we believe it would be prudent for members to review their IT-related security processes, with a view to identifying and remedying any obvious weaknesses.
“We are encouraging our members to contact a reputable IT supplier with expertise in cyber security to discuss this matter.
“BIFA has found that some insurers – especially those providing business interruption insurance policies – can also provide assistance.”