Now when online commerce has become more common and cryptocurrencies are widely used, cyberattacks are becoming more of a concern for both users and businesses. 

Companies need to set up a variety of measures to secure the supply chain and, therefore, not allow their process to be interrupted.

This article will outline some of the security tips that are used within the industry.  These are also constantly updated and changed to adapt to the complexity of the industry and cybercrime.

Stay Proactive

 In many cases, companies aren’t paying enough attention to the cyber security issues.  The measures they do put in place are usually the simplest ones and are based on the proprietary hardware that you could buy from any tech store.

A better and more cautious way is to set up a proactive approach to security that would anticipate potential threats.  It’s also useful to move away from hardware and focus on cloud-based systems.  These allow for more data to be used and protected and allow for greater control.

Protecting the User’s Personal Info

 Another key feature of cyber security that’s too often overlooked is a portion of it that will protect the personal data of end users.  Regulations have already been put in place to govern this process, as it’s the forward-facing part of online trade.

For instance, Canadian gamblers who use cryptocurrency gambling platforms recommended by CCN are obligated by the Know Your Customer Laws.  These require the users to provide their real names before they can use the services.  Similar regulations will soon be put in place to govern the use of all online platforms that require crypto payments and, therefore, all along the supply chain.

More Control Over Log-ins

Supply chain systems are complex and have a lot of moving parts.  There are also a lot of points at which different users need to log into systems, and that’s where the system is at its most vulnerable.  It’s important to set up a system that will strengthen security at this point.

This is done by creating a policy for who is able to log in, for how long, and for what purposes.  It’s equally important to have a system in place for password management.  The goal of such a system is to create passwords that are auto-generated and, therefore, difficult to repeat and that are valid for a limited time only.

Having an Alternative Platform

 Stopping a supply chain can have disastrous effects on the business as it’s vastly complicated and relies on the whole system to be moving at all times.  That’s why it’s important to set up an alternative platform that can be used in case of a cyber-attack that makes the main platform unusable.

It is an additional expense both in terms of maintenance and in terms of preparing the team involved to use two platforms, just in case.  However, such a safety precaution can end up saving the supply chain system when it’s most needed.

Using AI for Data Input

AI can be used to streamline and speed up the process of supply chain management.  One of the reasons for doing so is to use AI for data input.  This is where most security breaches happen, and by automating the process, it’s possible to avoid the threats altogether.  AI is also less likely to make mistakes during the input.

This can replace or substitute for EDI connections in the short term and import large assorted data files from multiple sources into a single, cloud-based storage medium.

Employee Training

 Employee training is often the most important part of the cyber security system, but it’s too often overlooked when too much emphasis is put on the technology.  The employees need to be trained on how to use the tools at their disposal, how to react in case of a breach, and what the potential safety threats can be.

At the same time, the employees need to be aware of how important it is to separate personal and work devices and how to implement and follow the password protocol.  This should be a key part of onboarding new personnel.

Backing up Data 

A huge amount of data needs to be transmitted in order to keep a supply chain system operational on all fronts.  Since all of this data is vulnerable, it should also be backed up in a system separate from the main one.  This system can also be based on a cloud or use physical storage.

In order to back up all the data involved, companies need to invest in a storage system and implement a system for creating backups.  As the system becomes more complex and more data is available, more storage will be needed.

Implementing Honeytokens

Honeytokens are used to alert those who use a network that there is suspicious activity on it.  Combined with a prepared team and a system put in place, they can save a supply chain network from malicious behavior.  Honeytokens are made to look like sensitive data even though they don’t contain any important information.  Once the tokens are targeted based on this deception, system administrators are alerted.

In some cases, if an attacker isn’t careful enough, honeytokens could even reveal the location and identity of the attacker.  Honeytokens can be implemented at many different parts of the supply chain, but they should start with the vendor.

Zero Trust Architecture

 Zero trust architecture (ZTA) is a security system implemented in certain parts of the supply chain network.  The point of the system is that it treats all network activity as malicious by default.  Only after each connection request passes a strict list of policies is it permitted to access intellectual property.

Such a system should be implemented for part of the supply process, which is very sensitive and doesn’t require any interaction from within the chain.  The ZTA framework can be adapted to suit any ecosystem setup requirements.

Minimize Access to Sensitive Data

 One of the ways to prevent security breaches is to strictly limit who has access to sensitive data.  The more employees have access to important data, the more there’s a chance there will be a breach at one of those points.  The first step is to create a slim version of the security system where enough employees are included for the system to run smoothly, but those who don’t need to be on the list aren’t.

Having a clear list of which employees could be responsible for the breach also helps in the aftermath when it comes to sorting out responsibility and implementing change.

Conclusion

 Supply chains are vulnerable to cyber-attacks due to how much data is required to operate them.  There are also many parties involved, and employees at different stages handle the data with varying levels of care and preparation.  Companies need to put in place complex measures to secure and protect the process, including the use of the latest technology and complex employee training.

It’s equally important to back up data, create a system for producing strong passwords, and limit how many employees interact with the sensitive data involved.  When combined, all of these measures prevent and mitigate malicious threats.