Utilities in the United States face a growing threat from ransomware attacks, which create financial incentives for hackers beyond potential disruptions to the power grid. In response, energy companies are making security a priority — and increasingly see it tied to their own corporate culture and bottom line.
A new survey from cybersecurity firm Mimecast found more than half of energy sector respondents were impacted by ransomware in the past year, and almost three-quarters say it is “inevitable or likely” they will suffer from an email-borne attack this year.
Hackers “focus on [return on investment] just like everyone else,” Matthew Gardiner, Mimecast’s cybersecurity strategist, told Utility Dive.
A June attack on multinational energy company Enel Group is evidence of the ransomware trend — as well as how companies can counter the threat.
Cybersecurity begins with the board
While the North American Reliability Corp. develops rules and regulations that set baseline security protocols, experts say a compliance-based approach does not go far enough and utilities must be incentivized to roll out best practices that can keep pace with rapidly…
