• ISA provides technical resources and standards to help industrial automation professionals advance their careers and the field. We enable automation professionals worldwide to solve problems and enhance their skills by bringing people together to create new technologies and share best practices with future automation professionals.
    • Industry Insights

  • We attract over 140,000 unique automation professionals monthly, making us the premier online content provider and the only dedicated electronic magazine in the automation industry.

    Monthly Magazine

    • More things to read

    Back
    Back
  • M logo for Automation.com Monthly. Link to current issue.

Common ICS Cybersecurity Myth #5: Financially Motivated Cyberattacks

By: Sanjay Chhillar
09 February, 2021
2 min read
Common ICS Cybersecurity Myth #5: Financially Motivated Cyberattacks
Common ICS Cybersecurity Myth #5: Financially Motivated Cyberattacks
This blog series discusses a few ICS cybersecurity myths, including the false belief that cyberattacks are always financially motivated.

Misconceptions about ICS/OT cybersecurity are stubborn. This "mythbusting" blog series dispels five common myths related to ICS cybersecurity.  Catch up on previous entries if you're interested:

Now, let's dive in.

ICS Cybersecurity Myth #5

Why would someone even bother to attack smart grids or industrial networks? Many people believe that attackers are usually financially motivated, and therefore, that there is not much to gain by attacking industrial networks

Contrary to the common belief that attackers are primarily financially motivated, and that there is not much for them to gain by attacking an industrial network, there could be many reasons why hackers would seek to attack and gain access to industrial networks—especially critical infrastructure such as electricity, gas, and water.

Image source: Canadian Centre for Cyber Security

Cybercriminals are financially motivated, but nation states and hacktivists may have

different motives beyond the financial

. State-sponsored actors and hacktivists may want to gain access to vulnerable critical infrastructure or defense strategy without causing immediate damage, and use their access to other nations’ critical infrastructure to influence policies and negotiations—or they may want to cause damage or outages during potential war situations to bring about economic impacts. (All of these are hypothetical—but feasible—scenarios.)

Busting ICS Cybersecurity Myth #5

This is an insightful report that highlights various actors that are motivated to attack ICS and the vectors they leverage for initial entry into ICS.

Image source: SANS 2019 State of OT/ICS Cybersecurity Survey

The cyber threat landscape is

always growing and changing

, and attackers are targeting ICS and critical infrastructures.

Below is a partial list (2010-2020) of ICS-related cyber incidents:

2010

Stuxnet attack ruined almost 20% of Iran’s nuclear centrifuges

2013

Cyberattack on a German steel mill resulted in massive physical and equipment damages

2015

BlackEnergy3 cyberattack on Ukrainian power utilities caused power loss for more than 225,000 customers

2017

WannaCry attack affected 200,000+ systems in 150 countries—although not explicitly designed to target ICS, it impacted ICS as well

2017

NotPetya attack prevented Maersk from locating and routing shipments, caused up to EUR 300 million in losses (public reports)

2018

Restoration from a cyberattack on an Italy-based oil company took more than a week

2019

Cyberattack on Norsk Hydro caused aluminum production shutdown, resulting in financial loss of up to 75 million USD

2020

Ransomware attack on a US natural gas company caused a gas pipeline to be shut down for two days

Stay tuned for the final part in this series, in which we identify major current trends in ICS cybersecurity and come up with lessons learned.

Interested in reading even more articles like this? Subscribe to the ISAGCA blogand receive weekly emails with links to the latest thought leadership, tips, research, and other insights from automation cybersecurity leaders.

Advertisement

Trending Articles

Advertisement

Related Articles

View all Articles and News
Advertisement
Advertisement