Sept. 7, 2022 - OTORIO , a provider of next-generation OT cyber and digital risk management solutions, highlights the current state of OT security in its 2022 OT Cybersecurity Survey Report, with 98% of respondents reporting an increase in cyber risks over the past three years. Sixty-seven percent of respondents said risks have increased significantly, and 31% responded, that there was a slight increase. These findings are not surprising given last year's headlines about spectacular OT cyberattacks. Worldwide attacks of the Lockbit ransomware, the attack on Colonial Pipeline in the USA or attacks on the distribution of mineral oil in Europe are just some of the most prominent examples.
Cybersecurity incidents reported to authorities: gap between theory and practice
When asked what percentage of companies have reported cybersecurity incidents to government agencies in the last twelve months (at the time of the survey), all companies said they do so in general. In day-to-day operations, however, 58 percent do not report at least 20 percent of their incidents, while only four percent actually report all their incidents completely. This means that the incidents that make the headlines represent only a fraction of the true extent of OT cyberattacks in the industry.
The most important areas of OT security this year
The key areas that OT cybersecurity is currently focusing on are improving asset visibility and inventory (39%), detection capabilities (23%), and responsiveness (20%). Many companies focus on optimizing what already exists. However, it is also worth thinking about whether a new approach might not solve more of their challenges. One way to do this is to proactively identify risks and mitigate them before they become security incidents. Moving from an Indication of Compromise (IoC) to an Indication of Exposure (IoE) approach makes OT security easier and much more efficient.
Ninety-nine percent of organizations said they will increase their OT cybersecurity budgets this year, with more than half (54%) planning to increase by more than 50%. Ninety-two percent will increase it by at least 10%. This is understandable given a significant increase in cybercrime, more regulations than ever before, digital transformation and the transition to connected production. OT security has become an integral part of the roadmap of industrial companies and operators of critical infrastructures. Now it's time to set the right course and invest the increased budgets in effective OT security solutions.
Methodology
Survey participants were selected and approached through a global B2B research panel, invited to participate in the survey via email, and responses were collected in the fourth quarter of 2021. The respondents were C-level managers, directors or heads of cyber security from companies with 250 to over 10,000 employees. Respondents were from North America, Latin America and Europe and came from industries such as energy and utilities, oil and gas, coal mining and alternative energy.
About OTORIO
OTORIO is an operational technology (OT) security company that provides end-to-end solutions for proactive digital risk management. These help industrial companies worldwide to maintain business continuity and protect ongoing operations. Together with partners, OTORIO offers comprehensive solutions and services for assessing, monitoring and managing security risk for critical infrastructure, intelligent transport and logistics systems and industrial manufacturing companies, enabling industrial companies and similar organizations to effectively secure their digital transformation in converged OT-IT-IIoT network environments.
OTORIO's global team has the extensive experience of leading international cybersecurity experts combined with in-depth knowledge of processes and requirements in many industrial sectors and comparable areas.
