"The number of patients impacted by security breaches nearly tripled in just one year, jumping from 5.5 million in 2017 to about 15 million in 2018. Health care data is valuable and cyber security incidents can cost a lot companies."
Law and Lifesciences: Managing Cybersecurity Risk
"The healthcare industry has consistently been the most targeted sector for cyberattacks over the last few years. Many organizations, especially in the provider space, are known to operate on insecure legacy IT infrastructures, which are weak from a security perspective. This problem has been compounded by the arrival of the internet of medical things (IoMT), which is connecting more devices and making them difficult to secure. As a result, cybersecurity risks are no longer confined to IT assets and data breaches; they are now directly impacting patient safety."
The pandemic brought out the best in a number of us, with healthcare workers rising to the occasion in treating patients, pharmaceutical companies working round the clock to find treatments and vaccines and everyone doing what they could to follow social distancing and other preventive steps to control the spread. However, a few were busy for the wrong reasons. As the world went online to work, to study, to shop, and to entertain themselves, hackers and cyber criminals around the world saw the opportunity to strike vulnerable sectors and extort money. A recent report released by McAfee, reported an average of 419 new threats per minute in the second quarter of this year.
Historically, IP theft has been the province of disgruntled and malicious employees and, today, insider attacks can account for as much as 80% of all cyber crime in Life Sciences. However, this situation is changing as Life Sciences companies progress their digital transformation initiatives. As disruptive digital technologies help companies become more agile, collaborative and innovative – working with an increasing ecosystem of partners – they also make organizations more vulnerable to attack from both internal and external sources.