Australia faces supply chain crunch as DP World works to fix cyber breach

Picture: Bloomberg - The Australian

Article Excerpt:

Australia could suffer supply chain disruptions lasting for weeks as DP World – one of the country’s largest port terminal operators – slowly brings its systems back online after a serious cyber attack forced a shutdown of its operations.

With an estimated 30,000 shipping containers stranded, a supply shock could push up inflation and force the Reserve Bank to raise interest rates for a fourteenth time, experts have warned, putting pressure on DP World to quickly fix the cyber breach.

Our co-founder and CEO Shane Bell provided comment regarding the cyber attack:

But NSB Cyber co-founder and chief executive Shane Bell said recent breaches had shown regaining control could take a long time.

“Incidents like this can be highly complicated to contain, particularly in IT environments that serve multiple operational purposes. Hence, when the connection to the internet is triggered as an early containment action, there can be indirect impacts to systems or operations that are potentially not even in the blast zone for the incident,” Mr Bell said.

“Once they are in and they have been in for a while, they can be very hard to dislodge. And it is only after you dislodge them that you can safely return to normal operations. It can be a highly complicated and time-consuming process that by necessity has to operate 24/7 until you have taken back control.”

Source: The Australian - Monday 13 November 2023.
Author: Colin Packam - Business Reporter. Colin Packham is the energy reporter at The Australian. He was previously at The Australian Financial Review and Reuters in Sydney and Canberra.
Reference: Australia faces supply chain crunch as DP World works to fix cyber breach.