The growth of connected devices has accelerated the convergence of IT and OT. That is why understanding the differences is the starting point when designing a cyber security strategy to protect industrial plants.
Many power stations and industrial plants are not equipped to deal with cyber security threats. A key issue, according to a recent IEC Technology Report, is that security is too often understood only in terms of IT.
More than 25 billion connected devices were in active use around the world in 2019. But the cost of our workplaces and homes becoming smarter and more connected is that they are more vulnerable to cyber attacks than ever before as the threat surface expands.
As more renewable energy sources and other distributed energy resources (DERs) interconnect with the electricity network, the risk of cyber attacks increases. The IEC 61850 series, as well as other core standards for the smart grid, are evolving to take these augmenting risk factors i
Millions of people around the world are working from home, many of them for the first time, as more and more countries go into lockdown over COVID-19. But as remote working increases, so too does the security risk to sensitive data, systems and networks.
Analysts estimate that up to 80% of cyber breaches originate in the supply chain. Making matters worse, organizations that enter into third-party business relationships take the security practices of the vendor into their own risk profiles.
In 2019, the average cost of a data breach to a company was $3.9 million, ranging from $1.8 million in India to $8.2 million in the United States. Legal costs related to litigation or fines can drive the amounts much higher.