Oct 14, 2023
Cybersecurity Builds Trust in Critical Infrastructure
Posted by Shubham Ghosh Roy in categories: cybercrime/malcode, economics, energy
Where reliability matters, as it does in energy, resilience against cyberattacks enhances a company’s reputation. Disruptions damage that reputation.
In 2021, a ransomware attack shut down Colonial Pipeline operations for six days. Gas shortages in the eastern US, economic turmoil, and eye-catching headlines resulted. Interest in cybersecurity for critical infrastructure intensified — and many leaders seemed to learn the wrong lesson.
Energy sector leaders often take cyber vulnerabilities seriously only after a significant breach. Experiencing a loss (or watching someone else’s) makes companies tighten cybersecurity to avoid similar losses. This pattern emphasizes the loss-avoidance aspects of cybersecurity. Yet thinking of cybersecurity solely as loss avoidance misses a key value generator cybersecurity provides: trust.
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