Blackberry’s Global Survey Highlights Cybersecurity Challenges In Software Supply Chains
$BB
BlackBerry Limited (NYSE:BB), once renowned for its pioneering smartphones, has successfully pivoted to become a leader in cybersecurity and embedded software. The company now focuses on critical systems, securing communications for the IoT and automotive sectors. The strategic redirection leverages its strong security heritage to address growing cyber threats and establish a competitive stance in the evolving tech landscape. This shift highlights the firm’s adaptability and commitment to innovation, positioning it well in the high-growth cybersecurity market.
In a recent global survey conducted by Coleman Parkes, BlackBerry Limited has unveiled significant cybersecurity risks within software supply chains. The study, which involved 1,000 senior IT decision-makers and cybersecurity leaders, was aimed at understanding the current security measures and challenges faced by organizations worldwide. The survey revealed that over the past year, more than 75% of software supply chains experienced cyberattacks. This alarming rate underscores the critical vulnerabilities present in the digital frameworks that businesses rely on. The survey found that a majority of the affected companies were able to recover from these breaches within a week, although recovery times have slightly increased compared to two years ago.
Christine Gadsby, Vice President of Product Security at BlackBerry, emphasized the importance of enhancing visibility and management within software supply chains. According to Gadsby, relying solely on trust is insufficient for ensuring security. The survey highlighted that a significant number of attacks were carried out through unmonitored or unknown third-party members of the software supply chains. In terms of preventive measures, the survey indicated that while many companies have adopted data encryption, security awareness training and multi-factor authentication, these steps are not always sufficient. The study also pointed out the major challenges companies face, including technical understanding, visibility and the availability of effective tools.
Moreover, the survey addressed the impact of cyberattacks on business operations, noting substantial financial losses, data breaches, reputational damage and operational disruptions. These consequences, only 65% of companies reported informing their customers about the security breaches, mainly due to concerns over negative impacts on their corporate reputation. The findings of this survey come at a time when regulatory and legislative bodies are increasingly focusing on mitigating risks associated with software supply chain security. BlackBerry’s report serves as a crucial indicator of the pervasive challenges and the ongoing efforts required to fortify cybersecurity defenses in a connected world.
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