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RESEARCH AND BRIEFINGS

Cyber-Risk Management: Why Hackers Could Cause the Next Global Crisis

 


Excerpted From BRINK | September 21, 2015

In recent months, cyber terrorists have accessed the records of 21.5 million American public service employees, infiltrated the German parliament’s network, and blocked a French national television broadcaster’s 11 television channels for several hours.

Last summer, a malware attack compromised the operations of more than 1,000 energy companies, giving hackers the ability to cripple wind turbines, gas pipelines, and power plants in 84 countries, including the United States, Spain, France, Italy, Germany, Turkey, and Poland at the click of a mouse.

For many years, the world has benefited from information technology advances that have improved the productivity of almost every industry – banking, healthcare, technology, retail, transportation, and energy. But we continue to underestimate the dark side of this equation: Greater dependence on information technology is resulting in an increasing and unprecedented number of cyberattacks.

Read the article in its entirety.