What the AGCO Ransomware Attack Could Mean for Ag Retailers
May 10, 2022 In a recent story posted on CropLife.com, research firm NordLocker talked about how the Federal Bureau of Investigation (FBI) had warned agribusinesses that ransomware attacks would likely to be a “real threat” during the 2022 planting and harvest seasons. Not long afterward as if on cue, AGCO Corp., one of the largest ag equipment manufacturers, announced that it had been the victim of a ransomware attack.
On May 6, the Duluth, GA-based company said that a ransomware attack had impacted some of its production facilities. AGCO declined to name the facilities affected or if any important data had been compromised, but promised it was “working on the problem.” Still, AGCO anticipated that parts of its business operations would be adversely affected “for several days and potentially longer” before normal operations could fully resume. Indeed, according to some published reports, AGCO equipment dealers were having trouble accessing the company’s website to place orders for parts.
For agricultural businesses, this continued a troubling trend that began in earnest during the fall 2021 timeframe, when several ag cooperatives were targeted by ransomware attacks. This included NEW Cooperative, one of the largest cooperatives in Iowa and a member of the CropLife 100.
And according to the FBI notices, more agriculture-oriented businesses should expect such attacks to take place in the coming months as well. “Although ransomware attacks against the entire farm-to-table spectrum of the sector occur on a regular basis, the number of cyberattacks against agricultural cooperatives during key seasons is notable,” wrote the agency.
Obviously, this heightened sense of worry for the cyber safety of agricultural companies has led to a host of seminars on the ransomware topic. In fact, all throughout the in-person winter trade shows I attended, numerous speakers discussed this issue at length. This included insurance company representatives, technology experts, and a few agricultural spokespeople.
Loading ...One such speaker was Michael Moore, Executive Vice President at EFC Systems. Not coincidentally, Moore will again be discussing the topic of ransomware at the upcoming 2nd annual TechHub Live, scheduled to take place July 19-21 in Indianapolis, IN.
Visit techhublive.com for more information on this worthwhile gathering of technology experts from across the industry. Since ransomware attacks are likely to remain a persistent threat to the entire agribusiness community, it will be important for every company that does business in this sector to protect itself as best it can.
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