Cyber criminals do not discriminate! The farming community and rural industries are becoming more reliant on technology – whether to increase efficiency, reduce costs, optimise production, purchase machinery, or just the daily use of mobile devices and email. The risk of losing money and data, or technology being denied or failing due to accidental or malicious interference (a cyberattack), has never been greater.
Criminals look to exploit vulnerabilities in software and IT security to gain access into a network to steal personal, financial, or commercially sensitive information, typically for financial gain. Or they take the path of least resistance and “hack the human”, tricking the victim into transferring money or giving away their password, allowing the criminal to bypass security measures and log in as a legitimate user.
Cyber criminals come in many different guises:
- The Phisher: Purports to be a ‘legitimate’ email source/sender, tricking a victim into revealing security information and personal details, most commonly referred to as online scams
- The Hacker: Exploits defects in software, weak passwords, and previously stolen credentials
- The Rogue Employee: Disgruntled employees who know what data is stored and where it can be accessed
- The Ransom Artist: Installs malicious software (malware), or ransomware, to block access to files and devices, and threatens to publicly release data unless paid a ransom
- The Social Engineer: Often through phishing, phone calls, or fake social media accounts, they manipulate a victim into performing a task, such as installing malicious software or giving away credentials
Cyber risk isn’t something only large corporates need to worry about. The wider farming industry has been hit by cyber criminals. High-profile cases like the recent ransomware attack on luxury Cotswolds farm shop, Daylesford Organic, make great news headlines, but the fact is, cybercrime is a very real and growing threat for agricultural businesses, both small and large.
Nowadays, most farming and rural businesses store personal and financial information on employees, tenants, growers, merchants, and so on; in addition, there’s business critical and commercially sensitive information – all of which needs protecting. When outsourcing IT functions, consideration must be given to the digital security and privacy practices of these third parties, and what impact it could have on your business if there was a cyber-attack.
What can I do to digitally protect my business from cyber-attacks?
If you fall victim to cybercrime, then your farming business could face financial loss, reputational damage, operational downtime, legal action, and fines.
Being aware of the threat is a good start, and there are plenty of steps you can take, including:
- Conducting regular security assessments and update IT software
- Regularly reviewing employees’ access and administration rights
- Implementing multi-factor authentication and regularly updating passwords . Don’t re-use passwords!
- Make sure you have efficient malware protection, and anti-virus software
- Educating employees on cyber security basics and the different cyber threats
- Be prepared! Create a response plan in case of cyber-attack
- Back up your data and segregate it from the main network, and test your backups
- Maintain physical security, restricting access to data and portable equipment
- Transfer the risk with Cyber insurance
Cyber-attacks are costly and complex. Without the in-house expertise, budget, resource, and experience to handle such events, a victim is not only left out of pocket, but with an overwhelming sense of panic and distress. Cyber insurance provides peace of mind with the necessary financial protection, and 24/7 access to a team of “emergency service” incident responders (cyber forensic specialists, legal counsel, crisis communications) to support you and your farming business when the worst happens.
Speak to a quality rural insurance broker to help ensure you are properly covered for cyber risks.