Smiths Group Reports Cybersecurity Incident: Systems Breached

 

Smiths Group, a London-listed engineering firm operating in energy, security, aerospace, and defence, has reported a cybersecurity incident involving unauthorised access to its systems. The company has taken immediate steps to mitigate potential disruptions and contain the breach. In a statement issued to the London Stock Exchange, Smiths Group confirmed the detection of unauthorised activity and outlined measures to protect business continuity, including isolating affected systems and ensuring normal operations are maintained.

The company emphasized its commitment to safeguarding operations, stating that swift action was taken to minimize the impact of the breach. Smiths Group is actively restoring affected systems and assessing the impact on its business operations. However, the company has not provided specific details about the nature of the cyberattack, though indications suggest it may have been a ransomware incident, given the common practice of taking systems offline in such cases.

Impact and Response

Following the announcement of the cybersecurity breach, Smiths Group’s share price dropped by nearly 2%. The company is collaborating with cybersecurity experts to assess the extent of the breach and facilitate the restoration of affected systems. While Smiths Group has confirmed adherence to regulatory requirements, it has not disclosed details about the cause of the incident, the exact timing of its discovery, or whether business or customer data was compromised. The company has promised to provide updates “as appropriate.”

This incident is part of a growing trend of cyberattacks targeting organizations across various sectors. Earlier this month, the International Civil Aviation Organization (ICAO), a United Nations specialized agency, confirmed a data breach affecting nearly 12,000 individuals in the aviation sector. The breach exposed approximately 42,000 recruitment records from April 2016 to July 2024, with 11,929 individuals directly impacted.

Similarly, Conduent, a business services company, recently confirmed a cyberattack that caused a system outage. Meanwhile, Hewlett Packard Enterprise (HPE) is investigating claims of a data breach after an adversary allegedly accessed documents associated with its developer environment. In the UK, the domain registry Nominet reported a network compromise in early January due to a zero-day vulnerability in Ivanti VPN, which has been linked to cyber espionage activities by the UNC5337 threat group.

Why Engineering and Manufacturing Are Targeted

Smiths Group, established in 1851, employs over 15,000 people and reported annual revenues of approximately $3.89 billion in fiscal 2024. The company’s Smiths Detection arm develops security screening systems for airports and other ports of entry, while its other divisions support industries such as mining, oil, gas, clean energy, and semiconductor testing. The engineering and manufacturing sectors are prime targets for cybercriminals and nation-state hackers due to their economic importance and the sensitive nature of their work.

For example, in August, Schlatter Group, a Swiss manufacturer of industrial welding machines, fell victim to a criminal cyberattack. Smiths Group, which reported annual revenues of £3.13 billion last year, supplies products to industries including energy, safety, security, aerospace, and defence, making it a lucrative target for cyberattacks.

The cybersecurity incident at Smiths Group highlights the increasing vulnerability of engineering and manufacturing firms to cyberattacks. As cybercriminals and nation-state actors continue to target these sectors, companies must prioritize robust cybersecurity measures to protect sensitive data and maintain business continuity. Smiths Group’s swift response to the breach underscores the importance of proactive incident management, but the incident serves as a reminder of the ongoing challenges in securing critical infrastructure and industrial systems.