90% of the world's largest energy companies experienced a third-party breach in the past 12 months, according to SecurityScorecard.
Powering the global economy and everyday activities, the energy sector's significance makes it a key focus for cyber threats.
The urgency to protect this critical sector grows amid economic and political uncertainties.
Cyberattacks on energy don't just cause financial losses and disruptions; they also impact manufacturing, healthcare, and transportation.
92% of the energy companies evaluated have been exposed to a fourth-party breach.
33% of energy companies had a C Security Rating or below, indicating higher likelihood of breach.
In the last 90 days, researchers identified 264 breach incidents related to third-party compromises.
MOVEit was the most prevalent third-party vulnerability in the last six months, with hundreds of companies impacted around the world.
Researchers analyzed more than 2,000 third-party vendors and discovered that only 4% of them had experienced breaches themselves.
90% of the evaluated companies suffered from third-party breaches.
This disparity underscores a critical vulnerability in the energy sector'ssupply chain security, where a small number of breaches can cascade into widespread security incidents.
When attackers successfully compromise a widely-used software, they can potentially access all organizations that rely on it.
Underestimating cyber threats to third-party ecosystems.
As cited by the new SEC cyber incident disclosure requirements, SecurityScorecard research found that 98% of organizations use at least one third-party vendor that has experienced a breach in the last two years.
This Cyber News was published on www.helpnetsecurity.com. Publication date: Thu, 07 Dec 2023 04:43:05 +0000