IoT-Reliance Turning into the Core Cause for Cybersecurity Lapses’ warns Ernst and Young (EY)

November 23, 2023

Sydney, the second-largest container port in Australia, was under a massive attack by the DP World Australia cyberattack. It had to shut down operations globally, with thousands of shipments stuck at different ports.

Jeremy Pizzala, the EY Asia-Pacific cybersecurity leader, apprises that companies reliant on IoT for operational technology are the most vulnerable to cyber-attacks.
In the aftermath of the severe DP World Australia cyberattack, Pizzala has warned supply chain vendors and shipping firms that they remain vulnerable to the growing and evolving threat of distribution network breaches.
DP World is still trying to cope with the devastating effects of this attack, which led to the shut down of its operations in Melbourne, Sydney, Fremantle, and Brisbane. Furthermore, there are around 300 containers reported to stay stuck at every regional exporter site until the company resumes its operations.
Pizzala emphasizes the lack of precautionary measures while innovating OT has made supply chain companies susceptible to ransomware, network breaches, Denial-of-Service (DoS), and malware attacks.

Operations tech 'can be cybersecurity weakness' - EY


Vendors' little or medium vulnerability propagates up or down in the wider channel, affecting larger enterprises. He further stated that the surge in exposure to cyber attacks is due to adopting automation, digitization, open-source software, and IoT integration.
EY's recent global cybersecurity leaders survey reveals that most digitized companies are well aware of potential cyber risks posed by malicious software or processes. Based on the findings, Pizzala urges supply chain companies as well as vendors to:
1. Adopt ML-driven tech innovations that readily identify unusual behaviors and cyber attack risks
2. Follow a zero-trust-based approach for anyone not related to the job or system
3. Shift to powerful ‘super user’ credentials in digital values to restrict unauthorized access


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