World Energy Council Issues New Report on Cyber Risk

Because cyber risk presents a “unique concern” in the energy sector, the World Energy Council has issued a new report entitled “The Road to Resilience: Managing Cyber risks,” to its industry leaders.

Referring to two cyber attacks that affected the nuclear industry in the past few years—an attack by “Slammer” in the U.S. in 2003, and a hacking in South Korea in 2014-2015, the report states that “[L]arge centralised infrastructures are especially at risk due to the potential ‘domino effect’ damage that an attack on a nuclear, coal, or oil plant could cause.”

The report outlines recommended actions that executives and stakeholders can take to improve the response to the growing threat of cyber attacks on the industry, particularly industrial control systems. It states “Attacks on ICSs could lead to loss of control of key equipment, with potential machinery breakdown, fire, explosion or injuries.”

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