APAC SPECIAL REPORT


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to tackle this growing global threat. In his first interview since Toll was hit by a major ransomware attack known as Mailto on 31 January, Thomas Knudsen, told The Australian Financial Review it had not yet found out where in the world the hackers had come from, but was almost through the final stages of bringing its more complex customer systems back online after five and-a-half weeks.


A call for greater collaboration


Tony Lugg, Chairman of TAPA APAC, said: “Mr. Knudsen is right to call for greater collaboration amongst the industry and I applaud him for doing so. Cyberattacks of this nature are


Last year, Cybersecurity Ventures predicted that cybercrime would cost the world $6 trillion annually by 2021, up from $3 trillion in 2015. Cybercriminals continue to target global corporations at the heart of their operations, and particularly their supply chains.


In the latest Allianz Risk Barometer 2020, cyber incidents top the chart as the top business risk for companies globally and regionally in Asia Pacific for the first time ever, after receiving 35% of responses from more than 2,700 risk management experts in over 100 countries and territories – the largest number of respondents ever.


With the increase of attacks, resilience has become a key driver for any organization managing a complex global supply chain. The World Economic Forum reported that, in 2018, information loss and business disruption accounted for over 75% of total business losses from cybercrime.


TAPA’s Worldwide Council, a global forum of experts from the Americas, Asia Pacific and Europe, Middle East & Africa, is developing a Supply Chain Cyber Security Standard to address the issues arising, particularly with more companies embarking on their digitalization transformation journeys.


Recently, the managing director of logistics giant Toll Group warned other CEOs they must expect to suffer the horror of a major cyber- attack, and called for greater collaboration between business, government and regulators


‘Cyber criminals have realised that the supply chain has many weaknesses and with the increase of digitalization and IOT, it is time for CEOs to make cyber security at least a quarterly boardroom agenda item.’


becoming all too common and impacting manufacturing plants, Tier One suppliers and logistics providers.” He went on to say “TAPA will be working with more Law Enforcement Agencies across the APAC region and has appointed Steve Mullins as TAPA Board Steering Committee Lead for Regional Law Enforcement Liaison and Trade Compliance to build more collaboration within and across the Americas and EMEA regions too.”


In 2017 and 2018, according to Symantec, supply chain attacks rose 78%. “Cyber criminals have realised that the supply chain has many weaknesses and with the increase of digitalization and IOT, it is time for CEOs to make cyber security at least a quarterly boardroom agenda item.” Lugg said.


“The responsibility cannot be solely placed on the Chief Information Officer. Leaders in the supply chain need to ensure that their suppliers are also addressing cyberattacks and ensure it is documented in back-to-back contractual agreements,” he added. In 2019, Airbus responded after a number of their suppliers were attacked, with Bloomberg reporting that Airbus SE has now taken steps to shield itself from cyberattacks targeting the European aerospace and defense company through subcontractors’ computer systems.


Working closely with law enforcement agencies


“With increasing reliance on data, IT systems and digitalisation, companies face a growing number of cyber challenges, including larger and more expensive data breaches, an


increase in espionage, hacker attacks, ransomware and spoofing incidents. Companies need to stay one step ahead of cybercriminals by anticipating possible technology loopholes and challenges,” Steve Mullins comments.


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