Energy Domain’s Post

Energy and utility organizations are attractive targets. 🎯 #Optiv outlines more about the APT groups, #Ransomware groups and other threat actors that pose the biggest #CyberRisk.

90% of global energy companies experienced a third-party data breach: Third-party data breaches against energy organizations were analyzed in a recent report, finding that 90% of global organizations have had a breach.

Consumer Energy Resources (CER) are becoming an essential part of Australia's energy framework and will be crucial to reach our net zero ambitions. Data is key to unlocking the full potential of CER and to successfully integrate it into the energy mix, yet it also introduces fresh challenges around privacy and security within our energy networks. Keen to understand more? Join me in exploring the types of data linked to CER, its critical importance, the application of the federal Privacy Act, and why data sharing agreements are crucial. #EnergyTransition #NetZeroAustralia #DataPrivacy #DataSecurity #PrivacyAct #CER #ConsumerEnergyResources 

The King & Wood Mallesons Tech and Energy teams have prepared this brilliant article, discussing the crucial role data plays in unlocking the full potential of Consumer Energy Resources (CER) and the challenges this creates in terms of privacy. Read more below. This article is the second of a five part CER publication series, exploring the emerging opportunities and challenges associated with the uptake of CER in Australia from the angle of tech law. #EnergyTransition #NetZeroAustralia #DataPrivacy #DataSecurity #PrivacyAct #CER #ConsumerEnergyResources 

To strengthen #cyberresilience at a time of increasing digitalization and convergence of OT and IT environments, the World Economic Forum—in collaboration with partners from electricity, manufacturing, and oil & gas industries—has developed a set of guiding principles and best practices. 📃 Download the white paper: https://okt.to/jfc9nr

Trust anchors are a vitally important enabler of the economy. Trust anchors exist all around us; A Registry of Deeds, a FICO score for debtor trust worthiness, banks may be the best known example of a "trust anchor" that people look to. New cybersecurity regulations are advancing in the US and Europe that are demanding more visibility into the trustworthiness of companies that supply digital goods and services to the economy. But where is the "trust anchor" that people can turn to when they want to know is "this thing" trustworthy? By "this thing" I'm referring to things that exist in the digital world, DWOT (TM) that surrounds us, like our smart devices and products used in conducting business and personal matters, such as apps in app stores, and API's on webservers. I've written articles in the past showing just how easy it is to produce a "fake" digital signature on a well known software product: https://lnkd.in/dcmXm8V We need the ability to ascertain and verify trustworthiness in the things and parties that make up the digital world. This is where a "Trust Anchor" can help. Reliable Energy Analytics LLC Software Assurance Guardian Community Trust Registry (SAG-CTR) (TM) is an example of a "Trust Anchor" for digital products, displaying a "Trust Score" called a SAGScore (TM), that is conceptually similar to a FICO score, but for "digital things" such as software and IoT products, i.e. https://lnkd.in/euhkZGfT AI introduces new challenges exposing the urgent need for a "trust anchor" as it is now easier than ever to produce fake, but convincing things, like digital images that look exactly like the "original trusted item", but are fake and should not be trusted. "2024 will be the year of deception (Charles Henderson, Global Head, IBM X-Force)"; https://lnkd.in/e8QMuvdU Software vulnerabilities, such as CISA KEV's, are another great example of the need to ascertain the trustworthiness of software and smart devices (IoT) that are used throughout our lives to help consumers avoid the harm of a cyber-attack. One important step in the cybersecurity paradigm shift we are observing is the need for a trust anchor for the digital world of things we rely on daily. Actions are being taken to create this foundational trust anchor, such as the EU CE trust mark and the US trust mark that are being discussed. The SEC regulations requiring companies to disclose their cybersecurity practices is another step in the directions of establishing a "trust anchor" to help investors understand the quality of cybersecurity programs that companies are employing to detect cyber-risk and prevent cyber-attacks. A digital trust anchor is key to enabling economic advances and protecting consumers: https://lnkd.in/er5jNRtU Looking forward to seeing colleagues at the CMSCC meeting on June 26, 2024: https://lnkd.in/etQPtZfq

Consumer Energy Resources (CER) are becoming increasingly vital in Australia's energy landscape. The successful integration of CER is critical for the country to achieve its net zero targets. Data plays a crucial role in maximising the benefits of CER. However, the collection, use, storage, and transfer of this data also bring new vulnerabilities to the energy ecosystem in terms of data and privacy. To gain a better understanding, continue reading to explore the different types of data relevant to CER, the significance of data, the application of the federal Privacy Act, and the importance of data sharing agreements. https://ow.ly/KPVH50SmSZ5

For my contacts in the Energy & Utilities sector, does this align with your experience? The #Verizon 2023 Data Breach Investigations Report #DBIR, shows the Energy & Utilities sector has seen Social Engineering breaches drop out of the top attack patterns (despite an overall rise). System Intrusion Basic Web Application Attacks Miscellaneous Errors Represents 81% of breaches. When it comes to what the threat actors are taking, there's a significant rise in Internal data (33% this year as opposed to 9% last year).

As IT and OT continue to become more tightly integrated, and one might argue interdependent, the need to introduce a cyber security thoughts and practices at all points in the control system lifecycle is needed. Join Alan Acquatella, Andrew Ginter, and me as we provide an introductory exploration of Cyber-Informed Engineering and how it can lead to an improved secure system life cycle. https://lnkd.in/eBN-uxwu

IF you need further proof that CISA KEV's are warnings of real danger that you NEED TO TAKE SERIOUSLY, read the report describing how 22 energy firms were compromised in Denmark: https://lnkd.in/eZ3pH7CB Make sure you are monitoring for CISA KEV's, they are like weather radio alerts warning of impending danger in the area: https://lnkd.in/eFdwTjFh Watch out for those CISA KEV cyber risks (cyber-icebergs) they are sinking companies everywhere, as the report from Denmark clearly shows. https://lnkd.in/e7aisX4b