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Cyber resilience in a hostile digital environment
Geopolitical events have made every nation’s security and its critical energy sector, including power and water utilities, a major cause for concern. In Europe, the energy sector is a prominent target for politically motivated state-sponsored cybercriminals who may, at times, want to reduce energy supply and disrupt the market.
The global threat landscape remains in constant flux, with increasingly sophisticated, financially motivated criminal groups regularly adapting their tactics, techniques and procedures (TTPs) to evade defences and hold energy companies to ransom. It’s now common knowledge that ransomware attacks are a serious threat for everyone.
Today, no single entity can work alone to protect its assets, resources, customers and reputation from harm. Governments, the energy sector, cyber security companies and technology developers must adopt a coordinated approach to defend the industry’s key infrastructure.
While the industry is facing several major challenges, security – including cyber security – is undoubtedly at the top as companies work to secure supply in an unpredictable environment.
Commonly used by cybercriminals to steal data for an extortionate fee, ransomware attacks are potentially very expensive and damaging to anyone’s business and potentially to their customers too.
Phishing attacks, which come in a multitude of guises, remain the simplest and most common way for threat actors to fool unsuspecting employees and can be the prelude to more severe attacks such as ransomware.
Employees working in multiple locations worldwide
Across the industry, employees can work almost anywhere, from offshore oil rigs to solar farms to airports and from city offices to spare rooms at home, significantly increasing the risks for businesses and the opportunities for threat actors.
As in every industry, data is precious and worth protecting – and therefore also worth stealing for criminals looking to make a quick profit.
As in every sector, almost everything is stored or transferred online on a bewildering array of databases, devices, applications and communications channels. More digital services means more to defend.
Trust and confidence
The foundation of any successful organisation, trust and confidence between business partners and customers is at risk if one party is breached.
Highly targeted by threat actors
With certain areas of the energy sector linked to geopolitics, during politically unstable times the risk of cyber-attacks rises.
Vulnerabilities in third-party supply chains
Facing well-defended assets, threat actors have increasingly moved along supply chains to search for less-protected services providers as an indirect way to reach their primary target.
Using vast and complex IT infrastructure and a wide array of technology means that the energy industry now runs a huge system of devices and endpoints, which, in turn, leads to more risk.
Defending the industry's key infrastructure
Quorum Cyber partnered with our customer, an oil and gas company with offices worldwide, to design, build and deliver the first cyber security strategy for the organisation.
Quorum Cyber was able to accelerate their IT transformation and adoption of cyber security best practices effectively and efficiently.Read more