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BuckheadFunds > Startups > Protecting Critical Infrastructure: Cybersecurity Challenges

Protecting Critical Infrastructure: Cybersecurity Challenges

News Room By News Room August 3, 2023 8 Min Read
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Dan Vigdor is the co-founder of ThriveDX, a global leader in providing cybersecurity training to upskill and reskill learners.

In today’s interconnected world, critical infrastructure plays a vital role in the functioning of societies. With a growing dependence on technology, key industries have become prime targets for cyberattacks. As a result, cybercriminals are increasingly targeting hospitals, government branches, power grids and schools, which has disrupted important day-to-day operations, compromised sensitive data and posed significant threats to public safety and confidential data.

Escalation Of Cyberattacks On Key Industries

Cyberattacks on key industries are becoming more pronounced, highlighting the need for heightened cybersecurity measures. As technology continues to advance, cybercriminals are finding new and sophisticated ways to exploit vulnerabilities in critical infrastructure. This escalation of cyber threats necessitates a proactive approach to cybersecurity, with organizations implementing comprehensive strategies that encompass threat detection, prevention and response. By recognizing the growing impact of cyberattacks and prioritizing robust cybersecurity measures, companies within these industries can enhance their resilience and protect the essential services they provide to society.

Hospitals

Hospitals have become attractive targets due to the vast amount of personal health information they store and the potential for disrupting critical patient care. There are increasing incidences of cybercriminals targeting hospitals. Attacks not only compromise patient privacy but also put lives at risk by disrupting medical procedures and delaying critical treatments. The alarming trend of cybercriminals targeting hospitals underscores the urgent need for robust cybersecurity measures to safeguard both sensitive data and the well-being of patients. In 2022, there were 344 healthcare breaches—making the industry one of the most compromised by security breaches for the third year in a row.

Power Grids

Power grids are another critical infrastructure at risk. With the integration of digital technologies, power systems have become vulnerable to cyber threats. Consequences of power grid cyberattacks extend far beyond inconvenience, as they can have severe economic and societal impacts. Industries such as healthcare, transportation and telecommunications heavily rely on a consistent power supply, making them vulnerable to disruptions that can stall essential services and compromise public safety. Protecting power grids from cyber threats is paramount to ensure the stability and resilience of critical infrastructure. Power grid reliability has increasingly been under attack; in 2022, threats to grid reliability rose to 77% from 2021.

Academic Institutions

Schools and educational institutions have also become victims of cyberattacks, impacting their ability to provide quality education to students. Educational organizations store vast amounts of sensitive information, including student records and financial data. Breaches in these systems can lead to identity theft and financial fraud, and can compromise the integrity of educational processes.

Cyberattacks on schools can have long-term consequences on students’ educational journeys and future prospects. The loss or manipulation of academic records can hinder college admissions, scholarship opportunities and overall academic success, highlighting the critical need for robust cybersecurity measures in educational institutions. Safeguarding student data and maintaining the integrity of educational processes are crucial to fostering a secure and conducive learning environment for students.

Ransomware attacks on the education industry detected by SOCRadar dark web analysts increased by 234% in 2022 compared to 2021.

Upskilling Cyber Employees

To effectively counter cyber threats, organizations can invest in upskilling and reskilling their cybersecurity employees. Cybersecurity professionals need to stay updated with the latest technologies, threats and defensive strategies to adequately protect critical infrastructure.

When leaders enable their teams to acquire new cybersecurity skills, they’re not only improving their organization’s defense capabilities but also contributing to their employees’ career development. First, business leaders should start with a clear understanding of the team’s current skill set. Then, organizations should invest in comprehensive cybersecurity training programs. These can range from online courses, boot camps, professional certification programs, to workshops led by industry experts. Encourage employees to participate and give them the time and resources they need to learn. Put this new knowledge to the test by providing opportunities for practical application.

Cybersecurity is best learned by doing, so create safe environments where employees can put their new knowledge into practice, like staging simulated cyberattacks. Cyber threats evolve constantly, so it’s important to foster a culture that values ongoing education. Regularly communicate the importance of keeping up with the latest threats and security measures, and recognize employees who take the initiative to learn and apply new skills.

According to the 2022 (ISC)2 Cybersecurity Workforce Study, the number of professionals in the cybersecurity workforce has reached a record high of approximately 4.7 million. Despite significant growth, there remains a global shortage of 3.4 million workers in the field, highlighting the persistent demand for skilled cybersecurity professionals. The cyber talent gap provides a unique opportunity for individuals interested in pursuing a career in a lucrative field.

Cybersecurity offers a range of attractive prospects, including competitive salaries, job security and the ability to make a significant impact on safeguarding critical infrastructure. As cyber threats evolve, organizations should consider investing in qualified professionals who can protect their systems and effectively mitigate risks. By acquiring the necessary skills and certifications, individuals can position themselves for rewarding careers in this ever-expanding field.

Mitigating Cybersecurity Challenges

To address the cybersecurity challenges faced in these various critical industries, businesses can take several measures.

• Implementing Multilayered Security: Deploying a combination of firewalls, intrusion detection systems, encryption technologies and access controls to establish multiple layers of defense against potential threats.

• Conducting Regular Risk Assessments: Identifying vulnerabilities, evaluating risks and implementing appropriate risk mitigation strategies based on industry-specific threat intelligence and best practices.

• Enhancing Employee Awareness: Educating employees about cybersecurity best practices, emphasizing the importance of strong passwords, phishing awareness and social engineering prevention to create a security-conscious culture.

• Establishing Incident Response Plans: Developing comprehensive incident response plans to detect, contain and recover from cybersecurity incidents promptly. Regular testing and updating of these plans are crucial.

• Collaborating And Sharing Information: Encouraging collaboration between industry stakeholders, sharing threat intelligence and participating in information-sharing initiatives to strengthen the collective defense against cyber threats.

The escalating rate of cyberattacks on key industries poses significant challenges to critical infrastructure and public safety. Hospitals, power grids and schools are among the prime targets for cybercriminals due to the potential disruption they can cause. To counter these threats, organizations must prioritize upskilling and reskilling their cybersecurity employees, ensuring they are equipped with the latest knowledge and techniques.

By proactively addressing the cybersecurity challenges faced by key industries, we can build a resilient infrastructure that ensures the safety and well-being of societies in the digital age.

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News Room August 3, 2023 August 3, 2023
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