Cyber risk can be represented as a threat or vulnerability resulting from either a computer or software hack for the purpose of theft, disruption or damage.

Law firm Holman Fenwick Willan (HFW) and maritime cyber security company CyberOwl have conducted research* that reports the shipping industry remains an “easy target” for cyber criminals. The report notes:

550,000

US$

the average cost to the target organisation of a Maritime cyber-attack in 2023; up 202% from 2022.

3.2 million

US$

the average ransom paid in 2023; up 350% from 2022.

Data from surveys undertaken in 2023 show that, where required**, Members have taken action to mitigate against cyber risk.

98%

of 185 vessels used passwords to protect access to computers, Wi-Fi and networks. 

97%

of 197 vessels had up to date anti-virus software installed. 

95%

• of 194 vessels monitored the usage of computers on board. 
• of 189 vessels had means of performing system back-ups on a regular basis.
• of 186 vessels had measures in place to prevent the transfer of viruses using external media.

93%

of 171 vessels had cyber security procedures in place. 

Maritime Safety Committee of the International Maritime Organisation (IMO) adopted Resolution MSC.428(98) affirming that an approved Safety Management System should take into account cyber risk management in accordance with the objectives and functional requirements of the International Safety Management (ISM) Code.

5

pillars of protection for Cyber security:

Identify | Protect | Detect

Respond | Recover

***Pa$5w0rd***

A string of three random words makes a strong, easy to remember password.

STOP

if something looks or seems suspicious.