Australian Organisations Face Growing Ransomware Threat via Supply Chains
Australian organizations face a growing threat from ransomware, with supply chains emerging as a significant vulnerability. Trend Micro's research highlights concerning trends, including low detection rates and insufficient knowledge sharing.
Only 45% of Australian organizations share knowledge about ransomware attacks with their suppliers, leaving many partners in the dark. This lack of communication is exacerbated by the fact that 25% of organizations don't share potentially useful threat information with partners. Moreover, 53% of organizations have supply chains with potentially less well-secured small and medium-sized businesses (SMBs), further increasing risk.
The threat is real: 48% of Australian organizations have had a supply chain organization hit by ransomware, potentially compromising their own systems. Among organizations that experienced a ransomware attack, 72% said attackers contacted customers and/or partners to force payment. This highlights the interconnected nature of the threat, with 68% of IT leaders believing their partners and customers are making their organization more attractive to ransomware.
To mitigate this risk, organizations should take proactive steps. Australian companies using Splashtop's secure remote access solutions actively support their supply chains in implementing high-quality security standards, including encryption, multi-factor authentication, and centralized policy enforcement. This helps prevent ransomware incidents and strengthens cyber resilience. Organizations should also understand their supply chain, audit high-risk suppliers, and enforce security standards.
The rising threat of ransomware via supply chains in Australia is cause for concern, with low detection rates and insufficient knowledge sharing exacerbating the problem. To tackle this threat, organizations must improve communication, understand their supply chain, and enforce robust security standards. Despite these challenges, only 26% of Australian respondents feel optimistic about tackling ransomware over the next 12 months, underscoring the urgent need for action.
