Conference Board (CED) report “Securing Critical Infrastructure: Building Resilience”, in which it shows that critical infrastructure in the United States is very vulnerable.
“As cyber attacks have multiplied and increased in complexity, it is critical to build robust and resilient critical infrastructure systems. The ultimate solution is greater collaboration between public and private sector leaders,” said Dr. Lori Esposito Murray, CED president.
“Key parts of the company include building resiliency to reduce, if not eliminate, the response time to get systems back up and running and establishing an unrivaled cybersecurity workforce that is large and sophisticated enough to maintain a secure system,” Esposito added.
The announcement comes at a time when the country is facing unique challenges in protecting its critical infrastructure, both from outages and direct attacks.
CED notes that several factors fuel increased concern about the resilience of vital systems;
Increasing geopolitical tensions
Rapid integration of automated and networked technologies
Systems that are becoming increasingly outdated and vulnerable
The private sector operates much of the nation’s critical infrastructure
According to the report;
· The proportion of companies with more than 100 employees that experienced a cyberattack in 2022 became 94%.
· The expected global cost of cybercrime in 2023 is $8 trillion.
· The increase in cyber threats that organizations experienced at the beginning of the pandemic was 81%.
From 2021 to 2022, the proportion of cyber-attacked nation-states’ critical infrastructure reefs will increase by 100%, in large part to Russia’s goal of undermining the infrastructure of Ukraine and Ukraine’s allies, including the USA.
· A hypothetical catastrophic cyberattack on power plants that leaves 100 million people without power for weeks could cost the US economy up to $1.9 trillion over six years.
Faced with these threats, Ced advises two crops;
1) Increase collaboration and information sharing between government and the private sector, prioritizing critical infrastructure operations.
2) Strengthen the resilience of critical infrastructure and the government’s ability to detect and respond to cyberattacks and threats.
Click here for more information on the report.
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