Cyber ​​attacks on industrial assets cost companies millions – News

The security specialist Trend Micro has the results of his research Status of industrial cyber security announced. It shows that 89 percent of the electricity, oil and gas companies have experienced cyber attacks that have affected production and energy supply in the past 12 months.

The results come a year after the ransomware attack on the Colonal Pipeline, which forced the company’s systems offline for several days. This led to severe fuel shortages on and along the U.S. East Coast. It is still the largest attack on critical infrastructure of its kind.

For organizations that experienced an error in their operational technology and industrial control systems (OT / ICS), the average financial loss is approx. $ 2.8 million per incident. The oil and gas industry has been hardest hit, according to Trend Micro.

72 percent of respondents admitted to having experienced errors in their ICS / OT environments at least six times during the year. The survey also showed that 40 percent of respondents were unable to block the initial attack, and 48 percent of those affected do not always make improvements to minimize future cyber risks. On the question of which future investments in cybersecurity will be prioritized, mention is made in particular of cloud systems (28 percent) and private 5G implementations (26 percent).

Reputation damage

Industrial sites around the world are rapidly being digitized to drive sustainable growth. However, this has led to an abundance of threats that they have not been able to counter, which has caused significant financial and reputational damage, ”said William Malik, Vice President of Infrastructure Strategies at Trend Micro.

About half of the industry sector organizations affected by attacks on their critical infrastructure have made an effort to improve their cybersecurity infrastructure. “But people do not always have sufficient resources or knowledge to defend themselves against future threats,” the researchers conclude.

The results come a year after the ransomware attack on the Colonal Pipeline, which forced the company’s systems offline for several days. This led to severe fuel shortages on and along the U.S. East Coast. It is still the largest critical infrastructure attack of its kind. For organizations that experienced an error in their operational technology and industrial control systems (OT / ICS), the average financial loss is approximately $ 2.8 million per incident. The oil and gas industry is hardest hit, according to Trend Micro. Of the respondents, 72 percent admitted to having experienced errors in their ICS / OT environments at least six times during the year. The survey also showed that 40 percent of respondents were unable to block the initial attack, and 48 percent of those affected do not always make improvements to minimize future cyber risks. On the question of which future investments in cybersecurity will be prioritized, mention is made in particular of cloud systems (28 percent) and private 5G implementations (26 percent). “Industrial sites around the world are rapidly being digitized to drive sustainable growth. However, this has led to a deluge of threats that they have not been able to counter, which has caused significant economic damage and damage to reputation, “said William Malik, Vice President of Infrastructure Strategies at Trend Micro. “But people do not always have sufficient resources or knowledge to defend themselves against future threats,” the researchers conclude.

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