Tag: cps assets
Cybercrime gets physical
Cyber-physical systems (CPS), such as operational technology (OT), the Internet of Things (IoT), building management systems (BMS) and connected media devices have now become a prime target for ransomware attacks. According to security firm, Claroty, cyber-physical attacks are now placing significant financial strain across organizations in several key sectors. Almost half of the respondents, 45 percent, to an independent survey commissioned by Claroty report financial losses of $500,000 or more over the last 12 months from cyber-attacks affecting CPS. Over a quarter, 27 percent, report losses of $1 million or more. “The most financially impacted sectors are chemical manufacturing, power and energy, and mining and materials, with 54-55 percent of respondents in each sector reporting more than $500,000 in losses from incidents in the last 12 months,” says the report, The Global State of CPS Security 2024.