Cyber-attacks: an imminent Threat

Abstract

Damco is a Dutch company founded in Denmark with offices all over the globe and dedicated to freight forwarding and su pply chain management. The company has a well - known reputation in the market since it is one of the companies pertaining to the Maersk Group. Companies such as El Corte Inglés, Walmart , and Hasbro , can be found as clients . Damco’s mission is to deliver a n ew perspective for their new customers at the same time as they embrace new challenges with enthusiasm and understanding with the help of new technologies. Its success comes from getting the best option for their customers, which means providing top qualit y supply chain management and freight forwarding services. Nonetheless , neither Damco nor any of the companies of the Maersk Group were prepared for the cyber - attack occurred on 27 th June. The fact that a computer virus such as the NotPetya would appear a nd infect the whole informatic infrastruc tu re of various companies leaving the m without the ability to work and the access to most of their files is a high risk that nobody consider ed . After a hard month of recovery , the company was back in business as usu al. H owever , the impact of the attack had caus ed major issues for the company. T he mentioned issues are translated into losses of around $ 300 million for the Maersk Group. The main objective of this project is to show how any company but specifically the s hipping industry (freight forwarding, logistics, and supply chain management) is really vulnerable to new threats . Furthermore, it is an attempt to raise awareness of the dangers that can occur in a company when sensitive data is entrust ed in technology . N owadays, t he use of the internet and t echnology ha s changed how international trade works . Apart from that, it has also changed the method of working in the freight forwarding industry . For instance, it has made easier the approach that companies have when it comes to send ing the necessary documentation or the technique of requesting shipping instructions. Nevertheless, the internet has a great power and with that power , great responsibility comes . In order to introduce a contingency plan , the background kn owledge about the company and the freight forwarding industry will be given. T hen, the type of attack that th e company suffered is d epicted . Also , the consequences that the company had to face will be explained. Finally, a contingency plan will be given at the same time as good uses of technologies are introduced.