Cybersecurity in the energy sector has become a priority. A recent report from Security Scorecard shows that 90% of major energy companies around the world have been victims of third-party data breaches in the last year.
This article explores the inherent vulnerabilities of the energy sector and discusses effective strategies to mitigate these risks.
The context of cybersecurity in the energy sector
According to SecurityScorecard’s analysis, all ten of the largest energy companies in the United States have experienced some type of third-party data breach in the past 12 months. Additionally, the study found that 92% of these companies suffered exposures through tier four vendors, and one-third have a security rating of C or lower.
One of the most critical issues identified was the MOVEit vulnerability, which has affected hundreds of companies globally over the past six months. Additionally, it was noted that 4% of third-party vendors had experienced breaches themselves, further complicating the security landscape.
Why might the energy sector be vulnerable?
The energy sector’s complex infrastructure, which includes everything from power plants to distribution networks, relies heavily on legacy technologies and an extensive network of third-party suppliers.
As detailed by the World Economic Forum, this complexity and interdependence widen the gaps for cyberattacks. In addition, the increasing digitalization of the sector has introduced new attack vectors, making the environment even more challenging for cybersecurity.
Risk mitigation strategies
Constant risk assessment
Energy companies should implement an ongoing risk assessment process, identifying and assessing both internal and external threats. This includes, for example, regularly reviewing the security of third-party and tier-4 suppliers.
Strengthening security policies
It is important to update and strengthen security policies, such as implementing stricter controls and using advanced technologies to detect and prevent threats.
Education and training
The human factor cannot be underestimated. Therefore, regular education and training programs for employees on security best practices can be key to preventing breaches.
Sectoral collaboration
Sharing threat intelligence across companies and industry organizations can help identify and mitigate risks more effectively.
Conclusion
In short, the vulnerability of the energy industry to attacks is a reality that cannot be ignored. However, with a proactive approach and effective mitigation strategies, it is possible to strengthen security and protect this infrastructure from growing threats.
Raising awareness about the importance of cybersecurity should be a priority for all stakeholders involved. That’s why Mouts TI can offer advanced cybersecurity solutions that prevent attacks and data leaks for companies in the energy sector. Get in touch to learn more.
