ATLANTA – ECIA members face a broad spectrum of cyber risks that could potentially impact their business operations. These risks can be more complex and challenging due to their international scope. In response to these concerns, ECIA’s Global Industry Practices Committee (GIPC) has published a guidance document, prepared as the result of a cooperative effort between electronic component manufacturers and their authorized distributors.

The document outlines key areas that executives need to consider:

• Cyber Threats When Operating Internationally
• International Laws Impacting Cyber Security
• An International Response Plan and Scheduled Tests
• Allocating Resources to Protect International Operations

The report reveals that approximately 60% of incidents were discovered within days, but 20% could take months or more before organizations realized something was amiss. “Spending more money on cyber security doesn't necessarily make you more secure,” the report cautions. “It's crucial to ensure that the money is spent effectively on measures that genuinely improve your cyber security posture. This might include hiring skilled personnel, investing in advanced security tools, and regular staff training.”

ECIA members can access the report here.

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