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Cyberattacks on industrial assets cost companies millions

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Trend Micro Study Reveals Impact of Threats to ICS/OT Environments

HONG KONG SAR – Media outreach – June 6, 2022 – Trend Micro Incorporated (TY: 4704; EAST: 4704), a global leader in cybersecurity, today announced new research* revealing that 89% of power, oil & gas, and manufacturing companies have experienced cyberattacks that have impacted production and energy supply over the past 12 months.

To read a full copy of the research, The state of industrial cybersecurityplease visit: https://resources.trendmicro.com/IoT-survey-report.html

“All over the world, industrial sites are going digital to drive sustainable growth. But it has invited a deluge of threats that they are ill-equipped to mitigate, causing major financial and reputational damage,” said William Malik, vice president of strategy infrastructure at Trend Micro. “Effectively managing these heavily networked IT and OT environments requires an experienced partner with the foresight and breadth of capabilities to deliver best-in-class protection in both environments. »

The findings come a year after the Colonial Pipeline ransomware attack, which forced the provider’s OT systems offline for several days, leading to major fuel shortages along the US East Coast. It is still the largest critical infrastructure attack (CNI) of its kind.

About half of industrial organizations impacted by CNI attacks have made efforts to improve cybersecurity infrastructures, but do not always have sufficient resources or knowledge to defend against future threats.

Of the responding organizations that experienced cyber disruption to their operational technology and industrial control systems (OT/ICS), the average financial damage was approximately $2.8 million, the oil and gas industry being the most affected.

Nearly three-quarters (72%) of respondents admitted to experiencing cyber disruption to their ICS/OT environments at least six times during the year.

The research also revealed that:

  • 40% of respondents were unable to block the initial attack
  • 48% of those who say there have been disruptions do not always make improvements to minimize future cyber risks.
  • Future investments in cloud systems (28%) and private 5G deployments (26%) were the top two drivers of cybersecurity among respondents.
  • The OT security function tends to be less mature than average IT in terms of risk-based security.

The addition of cloud, edge and 5G in mixed IT and OT environments has rapidly transformed industrial operations and systems. Organizations need to stay ahead of the curve and take security measures to protect corporate assets. Improving risk and threat visibility is a quick first step towards a secure industrial cloud and private network.

“From the start, Trend Micro exceeded our expectations, and we’ve never looked back since,” said David Levine, vice president of information security and CISO, Ricoh USA. “With Trend Micro, you get immediate response, escalation and communication. These are effective and innovative tools, associated with an excellent partnership.

Trend Micro’s unified cybersecurity platform provides streamlined detection and response, adaptable to ICS and 5G, to equip organizations in the complex industrial environment where different technologies and applications are integrated to support business operations . To learn more about Trend Micro ICS/OT security, please visit: http://www.trendmicro.com/en_hk/business/solutions/iot/ics-ot.html

*Trend Micro surveyed 900 ICS cybersecurity leaders in Germany, the United States, and Japan across the manufacturing, oil & gas, and power sectors to compile its new study.

About Trend Micro

Trend Micro, a global leader in cybersecurity, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro’s cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds , networks, devices and terminals. As a leader in cloud and enterprise cybersecurity, the platform offers a powerful suite of advanced threat defense techniques optimized for environments such as AWS, Microsoft and Google, and central visibility for detection and response. better and faster. With 7,000 employees in 65 countries, Trend Micro enables businesses to simplify and secure their connected world. www.trendmicro.com.hk

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