Top 6 Questions (and Answers) Every Agribusiness Should Be Asking About Cyberattacks and Data Security

Editor’s note: At the recent Tech Hub LIVE Conference and Expo, Michael Moore, Executive Vice President, EFC Systems, presented an informative session titled “The Anatomy of a Ransomware Attack”. Michael has received many questions on this hot topic over the past year. In the following article, he provides some of the most commonly asked questions, including solutions and answers to each of them.

Cyberattacks are an ever-growing threat to thousands of organizations and businesses worldwide and the ag industry is a top target these days, writes Michael Moore at CropLife. In fact, experts estimate that a ransomware attack will occur every 11 seconds. With that in mind, here are the most common questions — and answers — on cyberattacks and data security that will quickly educate you on the subject.

1. 1. Is the ag industry a target for cyberattacks? Not only is ag a target, but it is an easy target regardless of size. On average, ag retailers allocate about .6% of gross revenues towards their technology budgets. Underspending on technology makes it extremely challenging to install the necessary lines of defense to protect technical resources and opens the door for threat actors to enter your environment. As a comparison, businesses outside of ag allocate 2%-5% of gross revenues towards their technology budget and actual amounts vary based on company size and industry. The increased technology spend allows for advanced tools to be installed that ultimately protect business applications and help secure sensitive data. While purchasing equipment and upgrading facilities are more exciting topics when budgeting, remember to allocate the necessary funds to your technology budget to defend against the threats of today.
   2. How do cyberattacks occur? Roughly 91% of cyberattacks originate from individuals clicking on embedded links in enticing emails that are commonly referred to as a phishing email. Once activated, harmful tools are installed on source systems that ultimately provide a gateway for threat actors to encrypt computer systems and hijack sensitive data. We all play a vital role in reducing the spread of cyberattacks by bringing awareness of phishing attempts. Incorporating phishing training and simulation services will educate your team members on the undesirable consequences that successful phishing attempts deliver and will provide insights on which individuals are more prone to respond. Phishing training and simulation services are a cost-effective way to reduce risk through education and has significant ROI. So, think twice before clicking on that link in an email and be sure to validate unexpected emails before acting.

Read more at CropLife.

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