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- Businesses with industrial operations are investing more in cyber security as risks rise
- Stronger industrial supply-chain cyber security is also needed
- Tighter regulation may drive industrial companies to act on supply-chain cyber security
- DNV white paper advises on preparing for relevant new EU law on cyber security
Cyber threats to industrial facilities such a power grids and fuel pipelines are becoming more common, complex, and creative as operational technology (OT) – the systems that manage, monitor, automate and control industrial operations – increasingly networks and connects to IT environments. Manufacturing was the most cyber-attacked industry in 2022, according to IBM’s 2023 X-Force Threat Intelligence Index. Other industrial sectors, including energy and transport also appear within the Index’s Top 10.
With life, property, and the environment at stake, cyber security risks in industrial operations are now business risks. Company boards and C-suites are also recognizing that cyber security is vital to digitalization and automation.
However, most OT security professionals say their organizations are at risk because they do not know the security practices of relevant third parties and cannot mitigate cyber risk across the OT external supply chain, according to research conducted by Applied Risk, a DNV company, in 2021.