Cyberthreats are real, and the risks are growing.
From ransomware attacks that shut down production lines to hackers bringing operations to a halt, cyberattacks on food manufacturers and distributors are no longer rare occurrences.
Cybercriminals are always looking for ways to exploit your systems. And one contaminated batch, missed delivery or data breach can cost you valuable customers, time and resources, resulting in consequences that can ripple across your entire operation.
That’s why it’s so important to know what to look for and how to safeguard your operations.
Cybersecurity blind spots
The industry has specific vulnerabilities that hackers know how to exploit, including:
- Supply chain disruptions. A ransomware attack that locks up inventory management systems or delivery routing software can lead to spoiled products and significant financial loss.
- Payment system vulnerabilities. Food distributors processing high-volume, low-margin transactions are prime targets for criminals who skim credit card data from point-of-sale systems.
- Operational technology risks. Connected equipment like automated mixers, packaging lines and cold storage monitoring often lack security updates, offering easy entry points to sensitive business data.
- Recipe and formulation theft. Proprietary recipes and supplier relationships are valuable intellectual property. A competitor could pay well for your unique formulation or your list of suppliers.
Practical ways to limit vulnerabilities
The good news? There are simple ways that you can build a defense against these sophisticated crimes:
Establish secure network connections. Utilize Virtual Private Network (VPN) services to encrypt your internet traffic, especially when accessing financial data remotely. This encryption makes intercepted data virtually unreadable to attackers.
Maintain current software. Configure devices and applications to update automatically, ensuring you have the most updated security measures in place. Regular software updates are your first line of defense.
Deploy anti-malware protection. Invest in reputable antivirus software and ad-blocking tools. These solutions actively scan for and neutralize threats before they can compromise your data.
Apply strong authentication practices. Replace simple passwords with memorable passphrases that combine multiple unrelated words and symbols. Add multi-factor authentication steps to make it as secure as possible.
Have a back-up plan. Secure back-ups of all critical documents and financial records. Store these backups on separate devices or in a cloud service that separate from your primary systems.
Your business and your reputation are on the line
Don’t wait for a breach to prioritize cybersecurity. Magone & Company can help you assess your vulnerabilities, implement practical protections and help ensure your business remains secure. Reach out today.
This document is for informational purposes only and should not be considered tax or financial advice. Be sure to consult with a knowledgeable financial or legal advisor for guidance specific to your unique circumstances.