Not only are cyber attacks increasing in size and severity, they are now affecting industries that were once relatively safe. This is especially true for the transportation and trucking sectors, as the adoption of new technologies has opened new doors for hackers.
In fact, just one cyber incident can put a trucking company’s vehicles, data and employees at risk. In order to protect your fleet, employees, customers and bottom line, it’s important to understand the common cyber risks in the transportation industry.
New Technology Vulnerabilities
With the advent of telematics and embedded software, trucks are more connected than ever before. While this connectivity can simplify data collection, increase efficiency, reduce costs and improve safety, it also increases the likelihood that a fleet will be targeted by a cybercriminal.
In just a few minutes, hackers can steal the private data your fleets collect. This data can then be ransomed against your firm. In addition, vehicles with embedded software can be accessed and taken control of by malicious parties, putting the safety of your drivers and the general public at risk.
Cargo theft is a chief concern for fleet managers, and new technology creates vulnerabilities that make it easier for criminals to steal freight.
Through a tactic known as “fictitious pickup,” thieves can easily look up the routes of valuable loads. Then, using fraudulent credentials, they can access a contract, arrive at the listed pickup point, load up the cargo and drive away, all without being detected. This deception can be incredibly costly and damage a fleet’s bottom line, productivity and reputation.
Vehicles with embedded software can be accessed and taken control of by your drivers and the general public at risk.
In addition to implementing the fictitious pickup scheme, criminals can steal cargo by hacking a truck’s telematics system and disabling its acceleration and brakes. After disabling the vehicle, the criminals could easily overtake the driver and take off with the freight. Using a similar strategy, criminals could hack a truck and strand the driver, suspending product delivery until a ransom is paid.
Loss of Personal Data
Any organization that stores or transmits sensitive data can become the victim of a cyber attack. For firms operating in the transportation industry, information at risk includes, but is not limited to, the following:
Cyber Risks in the Transportation Industry
- Sensitive employee or customer data, including credit card numbers, addresses and birthdays
- Sensitive information from vendors, providers and other partners
- Any proprietary or intellectual property you store
- Logistics, freight, billing and collection data
Theft of any of the above information can financially sink a company or take away its competitive advantage. In some cases, loss of sensitive data can enable competitors to steal processes, systems, concepts or designs.
Customize Your Protection with Cyber Insurance
As the transportation industry becomes increasingly connected, a wider range of data will be transmitted across networks. While storing data is a necessity for modern businesses, trucking firms will need to take the proper precautions in order to protect sensitive information, their fleet and customers.
The best way to protect your fleet from cybercriminals is through cyber insurance. These policies can be tailored to meet the unique needs of your firm, ensuring that you are ready if and when an attack occurs.
Need a professional liability insurance quote? Then contact us today.
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