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.