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London, July 13, 2023 — Beazley, the leading specialist insurer, today published its latest Risk & Resilience report: Spotlight on: Cyber & TechnologyRisks 2023. Yet, boardroom focus on cyberrisk appears to be diminishing. trillion by 2025, a 300% increase since 2015 1.
The manufacturing sector faces an increasingly daunting cyber threat landscape that puts production operations, intellectual property, and entire supply chains at risk. Simply checking boxes is no longer sufficient to withstand escalating cyber attacks from criminals, nation-states, and insiders," the paper states.
With the increasing reliance on digital technologies for operational efficiency, this sector has become a prime target for sophisticated cyber and physical threats. Leverage data analysis: Data analytics and IoT technologies are revolutionizing the oil and gas sector, enabling better monitoring and threat detection.
As the Industrial Internet of Things continues to transform the global industrial manufacturing and critical infrastructure industries, the threat of aggressive, innovative and dangerous cyber-attacks has become increasingly concerning. Related: The top 7 most worrisome cyber warfare attacks.
Until the last ten years or so, we would largely categorise robots as reactive with mostly industrial applications in areas like manufacturing or warehousing. world, represent perhaps the most disruptive technology to transform IT, our industries and how businesses operate.
And get the latest on open source software security; cyber scams; and IoT security. 1 - Tenable: Orgs using AI in the cloud face thorny cyberrisks Using AI tools in cloud environments? Make sure your organization is aware of and prepared for the complex cybersecurity risks that emerge when you mix AI and the cloud.
Consider OpenAI, with technologies that are used in a wide range of assistants, from Apple and GitHub Copilot to Morgan Stanley ‘s proprietary tools. However, with great user experience come great cyber-risks, and as AI becomes more widespread, the likelihood of it being chosen as an attack vector increases.
What is an OT CyberRisk Framework? An OT CyberRisk Framework is a structured approach designed to identify, assess, manage, and mitigate cybersecurity risks in Operational Technology environments. Assessing the potential impact of cyber threats on critical industrial systems.
Cyber actors could potentially cause widespread disruptions by targeting operational technology (OT) systems that control power generation. The renewable energy sector, rich in proprietary technology and innovative processes, is a prime target for intellectual property theft.
North Korea's prolific state-sponsored hacking units are once again setting their sights on South Korea's defense and arms manufacturing sector. South Korea is home to major defense manufacturers such as Korea Aerospace Industries Ltd. KAI), Hanwha Aerospace Co. , LIG Nex1 Co. , and Hyundai Rotem Co. currently Hanwha Ocean Co.
ransomware to conduct the cyber-attack, the hackers threaten to expose stolen files unless the company pays a ransom. The factory specializes in manufacturing, consumer electronics, medical devices, and industrial operations. SecurityWeek has attempted to contact the electronics manufacturer but has yet to receive a response.
enterprises embrace AI to boost productivity, accelerate decision-making, and automate workflows, to name a few benefits, cybercriminals are using the same technology to automate and scale more sophisticated attacks.
However, as quantum computers become more powerful, they could break these encryption schemes, which could expose AVs to cyber threats like man-in-the-middle attacks, GPS spoofing, and command injection attacks. Preparing today will determine whether this technological revolution strengthens or jeopardizes our digital future.
As our world becomes increasingly interconnected, the security of Operational Technology (OT) and Internet of Things (IoT) devices is more critical than ever. These findings are not just a wake-up call, but also show the need for immediate action to mitigate cyberrisks today and in the future.
China has aggressively assembled a vast and growing technology base to expand its influence, and, when needed, spy on the rest of the world. Today it is the world’s largest manufacturer of telecom equipment, including critical 5-G equipment. The US needs to be more aware of China’s broader, surreptitious digital strategy.
What Are the Cyber Security Trends Around the World? Technological and societal developments and a pandemic have utterly changed the business landscape as we knew it. Increased concern about attacks targeting Operational Technology (OT) systems and critical infrastructure. Thu, 12/16/2021 - 10:36. Other important findings.
The report analyzes top cyber threats from the second half of 2023 and emerging cybersecurity trends impacting critical industries such as finance, education, manufacturing, and state and local government (SLED).
Section 3305 mandates that medical device manufacturers must submit comprehensive plans to the FDA, focusing on monitoring, identifying, and proactively addressing medical device vulnerabilities. Moreover, manufacturers must establish and maintain processes to ensure that the device and associated systems are sufficiently cyber-secure.
Below is our esteemed panel of SC Awards judges, contributing from health care, engineering, finance, education, manufacturing, nonprofit and consulting, among others. Since founding Cedric Leighton Associates, he has become an internationally known strategic risk expert. In government, Brooks served under President George W.
It’s mostly problems from the IT world, says Andy Norton, European CyberRisk Officer at Armis. Operational technology (OT) used to be the specialist networks nobody in IT bothered with, or perhaps thought they didn’t need to. The Guru decided to ask Armis’ European cyberrisk officer, Andy Norton for his thoughts.
Her work centered on helping aerospace manufacturers manage the convergence of cyberrisk across their increasingly complex business ecosystem, including IT, OT and connected products. During her first few years at Booz Allen, she supported technology, innovation and risk analysis initiatives across U.S.
Key Infrastructure and Critical Vulnerabilities: Attack Against Tata Power Highlights CyberRisk to India’s Growing and Increasingly Connected Population. 8 ) Deadbolt first targeted storage devices manufactured by Taiwan-based company QNAP, for which patches have been available since early this year. (
Whether organizations call it digital transformation or just using technology to create opportunities for new, easier ways to work, one thing is certain. The platform that powers the service integrates SD-WAN, secure remote access, and secure web gateway technology into a single set of consolidated levers and controls for IT and security.
They have a long, established history of design and manufacturing excellence. Supply Chain Risk Management (SCRM) is a broad discipline for awareness and action, and Cybersecurity SCRM (C-SCRM) is a subset focused on cyberrisks associated with information, communications, and operations technology.
Respondents, 77% of whom were located in North America, represent a cross-section of the profession, including large (49%), medium (29%) and small companies (23%), and a broad selection of industries, such as IT/technology, services, financial services, education, government, manufacturing and healthcare.
Consumers and organizations are enthused about the operational benefits of more robust mobile connectivity, but the shift to 5G networks doesn’t come without risks. Service providers and 5G-enabled device manufacturers both have critical roles to play in the success and sustainability of this wireless network rollout.
We covered the cybersecurity landscape including the most high-profile cyber crime statistics: number of attacks, crime targets, cybersecurity spendings, and cyberrisk management. As technology advances, the global society becomes digitized and people use Internet and mobile devices more frequently.
No, this was not an infection of the operational technology for Colonial Pipeline… but a shutdown resulted nonetheless. So this was a failure of business operations, but it shows the fragility of certain industrial operations like manufacturing,” said Caltagirone.
1 - CSA: How to prevent “shadow AI” As organizations scale up their AI adoption, they must closely track their AI assets to secure them and mitigate their cyberrisk. Cybersecurity and Infrastructure Security Agency (CISA), the FBI and the Australian Cyber Security Centre. So how do you identify, manage and prevent shadow AI?
The report provides an inside look at the insights and tools used by risk managers, IT departments, security researchers, and solution providers to hone their offerings and approaches to keeping organizations safe from evolving cyber threats. Litigation risks for tech vendors. Ransomware claims and costs.
It helps members address risk, including cyberrisk. Our national security interests, economic infrastructure, technology and innovation, and public health and safety largely rest within private industry. Impressive numbers, certainly. But what is InfraGard's impact, in real-world terms?
Besides all the benefits IoMT devices provide, they have also introduced new risks to healthcare organizations that haven’t previously been a security priority. These new risks have created a dangerous security gap—new technology is introducing new risks and a larger attack surface. Hackable pacemakers.
Global aluminum manufacturer Norsk Hydro was hit with an alleged ransomware attack Tuesday. Related Stories Secrecy Reigns as NERC Fines Utilities $10M citing Serious CyberRisks Criminals, Not State Actors, Target Russian Oil Company in 3-Year Cyber Attack Devices’ UPnP Service Emerges as Key Threat to Home IoT Networks.
“Right now I’m dealing with a situation where the backups that were networked were all encrypted,” said Chris Ballod, associate manager at Kroll’s cyberrisk practice. A manufacturing plant might not work without the just-in-time billing system located on a business network also up and running.
To get more details, read the 24-page “ CISA Analysis: Fiscal Year 2023 Risk and Vulnerability Assessments ” report and complementary charts. Currently, these agencies architect their IT and cybersecurity operations independently, and consequently their ability to manage cyberrisk varies. and in other countries.
And: Automating Our Way Out of PKI Chaos Episode 195: Cyber Monday Super Deals Carry CyberRisk DHS Looking Into CyberRisk from TCL Smart TVs. What does that work look like and what platforms and technologies are drawing the attention of cutting edge vulnerability researchers?
Operational Technology is no exception. Primarily used in the manufacturing industry, cybercriminals have targeted Operational Technology to disrupt business operations. The manufacturing industry transition relies heavily on connectivity and new technologies. However, benefits come with drawbacks.
The question, which passed with more than 70% of the vote, was vigorously opposed by automotive manufacturers and dealerships as well as other technology industry interests, which spent tens of millions of dollars trying to defeat the measure, in part by warning about the cyber security and privacy risks of sharing wireless data.
Dan and I discuss some of the flaws in the approach that medical device makers take to security, and how manufacturers can take a page out of their own book: applying the same standards to cyber security as they do to – say- device safety. . “Manufacturers need to take a step back,” he said.
The 51-page report goes into detail on the threat landscape, risks to key sectors and supply chain risks. The National Cyber Security Centre, which led a broad steering group to develop the report, also released a useful infographic summing up the main points.
The contemporary world has witnessed the rise of the Internet and global communication, and collaboration technologies, including mobile data use and the culture of bring your own device [BYOD].
The US, manufacturing sector, and professional, scientific, and technical services (PSTS) sector are primary targets amidst an overall increase in ransomware attacks. GreyMatter DRP generates alerts that are categorized by risk type and provides context that can allow organizations to take proactive remediation responses.
Chances are, youre buried in vulnerabilities and other cyberrisks and theres simply no way to address them all. Seemingly elusive assets in cloud, IT, operational technology (OT), internet of things (IoT), identities and applications will show up in a holistic view of the attack surface. But they keep on coming.
The OT Cybersecurity Framework or OT CSF is a foundational Operational Technology (OT) risk framework that covers all aspects of the OT environment. By answering targeted questions within the platform, organizations can mitigate these risks effectively, ensuring that they align with the best practices outlined in the OT CSF.
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