Insight From IT Experts Reveal Exposed Cybersecurity in Supply Chains

A new report shows that the financial sector is not equipped to take on firmware supply chain attacks.

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Numerous cybersecurity attacks on the supply chain have financial advisors, supply chain managers and IT experts on high alert. But unfortunately, recent data shows the industry is ill-equipped to handle the continued threat of firmware attacks on the supply chain. A joint report from Eclypsium and Vanson Bourne shows that 92% of chief information security officers within finance believe that others in the industry are most likely better equipped to handle such an attack and three out of four believe there are gaps in awareness of this blind spot. The report explains that firmware is a fundamental component of devices, which support the supply chain, but it remains an overlooked part of the technology stack, leaving the supply chain open for attack. 

Per Eclypsium: 

  • Four in five agree that firmware vulnerabilities are on the rise and close to all (93%) state that securing firmware should be an urgent priority. To move the needle, financial organizations nearly unanimously believe an increase in investment and resources is imperative. Positively, respondents anticipate an 8.5% increase in IT security budget dedicated to firmware in the next 1-2 years.
  • Positively, respondents anticipate an 8.5% increase in IT security budget dedicated to firmware in the next one to two years. 
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