According to the 2018 Verizon Data Breach Investigations Report, most computer intrusions in the manufacturing industry begin with a spear-phishing email sent to an employee.1
Another report shows that in 91% of manufacturing breaches, the goal is to steal intellectual property—trade secrets, business plans, and patented designs. After all, manufacturers spend billions on research and development to find the “next big thing.” Hackers sell stolen ideas on the Dark Web or directly to foreign and domestic business competitors.2
One more reason phishers go after manufacturers: the industry employs millions whose personal information can be stolen and used to make fraudulent purchases or hijack tax returns.3 Phishing emails aimed at manufacturers often contain malware, but sometimes attackers rely on social engineering. One manufacturing executive fell for an email requesting a $3 million wire transfer to a Chinese vendor. The money ended up with Chinese hackers instead. Luckily, working with Chinese authorities, the company was able to reclaim the cash.4
Cofense delivers solutions that train employees at all levels to spot and report phishing so security teams can stop it in its tracks.