Watch: Operational Technology Risk

Date March 19, 2021
Article Authors

Join me and cybersecurity expert Max Borovkov, CEO of Julie Security, at noon on Wednesday, March 24, for a webinar discussion of the gaps created when controls for Operational Technology (OT), including environmental, industrial, and telecommunications systems, and Internet of Things (IoT) technologies are not implemented. We’ll explain why these technologies should be secured, the threats plaguing them, and what you can do to proactively protect your organization.

The cost of cyber-crime is projected to grow significantly year over year reaching $10.5 trillion by 2025. All companies—not only healthcare providers, manufacturers, and utilities—should implement OT system controls, just as they do for information technology (IT) systems. The top reasons for doing so are as follows:

  • Cybersecurity Attacks

    The recent and now infamous SolarWinds supply chain attack demonstrated the extent of devastation an attack can cause, and we know that the incidence of cyber-crime continues on the rise. As well, we’re seeing a greater variety of types of attacks, from the sophisticated Advanced Persistent Threat (APT) to hackers working from their basements using “script kiddies.”

  • System Malfunctions

    Computer networks are not immune to Murphy’s Law. Computers are mechanical devices and prone to failure over time. It is wise to monitor them as well as implement controls, such as frequent backups, that ensure system availability.

  • Internal/Insider Threats

    According to the Verizon Data Breach Investigations Report, 30 percent of data breaches in 2020 involved internal actors. Such threats are not all malicious; errors and mistakes account for a portion of the total.

  • Third-Party Risk

    Our initial 2021 Risk Advisory Webinar stressed the importance of attending to third-party risk. Contractors and vendors with remote access and connectivity to your systems should be monitored. It was access obtained through an HVAC vendor that led to one of the largest credit card breaches in history.

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SolarWinds Cyber Attack: February 24 Webinar Will Address Lessons Learned

Date February 22, 2021
Article Authors

The SolarWinds cyber-attack impacted the U.S. government and some of the largest companies in the world. Join HBK’s Bill Heaven, and cybersecurity law expert and best-selling author Joe Brunsman of Chesapeake Professional Liability Brokers, Inc., at noon this Wednesday, February 24, for a webinar on lessons we learned from the hack and the protection against cybercrime afforded by cybersecurity insurance.

“I think from a software engineering perspective, it’s probably fair to say that this is the largest and most sophisticated attack that the world has ever seen,” Microsoft President Brad Smith characterized the December SolarWinds cybersecurity hack on the February 14, 2021 episode of 60 Minutes. As such, the attack on the Austin, Texas-based software developer replaced the 2013 Target data breach as the most heinous cybercrime yet discovered. The enormity and nature of the attack hold lessons for us all.

The “supply chain attack” was executed through an “advanced persistent threat (APT)” vector. The supply chain attack is considered the most intrusive third-party breach because it impacts trusted, highly integrated computer systems of multiple organizations within a supply chain. APT attacks are perpetrated by the most sophisticated cyber adversaries, such as nation-states, organized crime, and activist groups. APTs are often long-term, multi-phase attacks that focus on reconnaissance while using obfuscation techniques that allow them to operate undiscovered for months or even years.

The SolarWinds attack, suspected to have been launched by the Russian Government, was a so-called “Trojan Horse,” where malicious software, or “malware,” was disguised as a software patch, that is, a fix for a vulnerability identified by the software developer. The “ingress attack,” which focuses on intrusion into computer systems, gave the hackers backdoor access to the computer networks of approximately 18,000 customers of the SolarWinds Orion platform. Likely initiated in March 2020, the ATP was not discovered until December 2020, giving the hackers nine months of “dwell time,” that is, nine months of undiscovered access to those 18,000 computer systems.

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