Cybercrime threatens international transport chains

The transport and logistics sector is increasingly becoming the target of cybercriminals. The risks of data abuse and theft are increasing alongside the ever-expanding digitization of processes by shippers, forwarders, transport companies and infrastructure operators.

Cybercrime threatens international transport chains

The transport and logistics sector is increasingly becoming the target of cybercriminals. The risks of data abuse and theft are increasing alongside the ever-expanding digitization of processes by shippers, forwarders, transport companies and infrastructure operators. In a recent analysis, consultants from Oliver Wyman already warn that damage amounting to around €6 billion through cybercrime will threaten the global logistics industry as early as 2020. In Germany alone, the damage could amount to €450 million.

In a recent analysis, consultants from Oliver Wyman already warn that damage amounting to around €6 billion through cybercrime will threaten the global logistics industry as early as 2020. In Germany alone, the damage could amount to €450 million.
Direct costs of cyber attacks worldwide and in Germany in 2017 vs 2020, in billions of euros.
Worldwide
  • 3.0 billion euros in 2017
  • 6.0 billion euros in 2017
Germany
  • 0.2 billion euros in 2017
  • 0.45 billion euros in 2020

%

growth per year

Does not include indirect costs, such reputational damage and IP loss. Includes freight transport, infrastructure and the ‘last mile’ (no passenger transport). Source: Oliver Wyman analysis
Numerous interfaces with a wide variety of participating companies: Logistic transport chains offer various weak points that can be exploited to gain illegal access and thereby allow customer and employee data to be hacked, warehouse security and control installations to be breached or delivery drones to be hijacked. “Targeted attacks are a much greater threat to transport and logistics providers than the blackmail-based WannaCry attack executed in May this year,” says Max-Alexander Borreck, principal at Oliver Wyman. Threats are not only posed by expert hackers but also by the darknet: On the darknet, criminals – even those who do not possess any in-depth programming knowledge – are potentially able to obtain complete software packages with malicious software or request a cyberattack as a service.
The Internet is not the only risk factor for companies – employees can also be bribed or their ignorance can be misused to gain access to company networks. In addition to technical precautions, special training sessions must be used to promote awareness for security among the workforce and specific plans for emergencies must be developed.

Cybersecurity: Turn risk into opportunity

Industry leaders in logistics have now begun to adapt to cyber threat scenarios. According to the consultants at Oliver Wyman, businesses that make cybersecurity part of their portfolio of goods/services can rise above the competition and turn risk into opportunity. A survey by the aviation IT and telecommunication service provider SITA (Société Internationale de Télécommunication Aéronautique) revealed that 91 percent of airlines also want to invest in cybersecurity programs in the near future.

Text by Benjamin Klare
Sample photo: Pixabay