Browsing: major threat to energy oil/gas and utilities organisations

• Cybersecurity recovery costs post a staggering increase in recovery costs for the Energy and Water sectors.
• The report also reveals that nearly 49 per cent of ransomware attacks on these sectors began with an exploited vulnerability
• The Energy and Water sectors also reported a high rate of ransomware attacks

The water and energy sector have been the worst hit with the rise in cybercrime recovery costs according to a new report by Cybersecurity firm Sophos. Titled “The State of Ransomware in Critical Infrastructure 2024,” the survey shows a staggering increase in recovery costs for the Energy and Water sectors.

Experts from Sophos say that the median recovery costs for these critical infrastructure sectors have quadrupled to $3 million (Sh390 million) over the past year, significantly higher than the global cross-sector median. The report also reveals that nearly 49 per cent of ransomware attacks on these sectors began with an …