The Cost of Neglect: Why Cybersecurity is Non-Negotiable

Once a wise man, my functional safety trainer, said, ‘If you think safety is expensive, try an accident.’ These words still echo in my mind - a profound truth that holds even greater weight in the world of cybersecurity.

Imagine buying a car (a very common example that fits in many scenarios) and deciding to skip airbags, "I’ve never had an accident," you reason. Or perhaps, "I’m a good driver; I won’t need them." Does this sound like a logical decision? Most of us would vigorously say no. Cybersecurity is not a luxury; it’s a necessity. Yet many organizations treat it as optional, assuming that no past incidents mean no future threats. But just like skipping airbags in a car because you’ve "never had an accident," this approach is neither logical nor sustainable.

The digital age has brought unprecedented advancements, revolutionizing industries, communication, and the way we live. From automation in factories to smart grids powering cities, technology has made our world faster, more efficient, and interconnected. However, with these advancements come new risks—particularly in the form of cyber threats.

OT systems, which include everything from industrial control systems (ICS) in manufacturing to SCADA (Supervisory Control and Data Acquisition) systems in utilities, play a fundamental role in maintaining the infrastructure that powers our daily lives. These systems, while integral to industries like energy, transportation, and healthcare, have also become prime targets for cybercriminals, putting public safety, economic stability, and national security at risk.

In the past, security breaches might have been limited to data theft or IT networks, but today, cyberattacks are increasingly aimed at disrupting physical systems & infrastructure. These attacks can lead to massive consequences—shutting down power grids, contaminating water supplies, halting manufacturing lines, or even endangering lives. The stakes have never been higher, and as industries continue to digitize and integrate more complex technologies, the need for comprehensive cybersecurity strategies has become more urgent than ever.

Cybersecurity: Not a Buzzword

Every day, news outlets report fresh cybersecurity incidents. A quick scroll through this Twitter feed paints a grim picture of the global landscape. If you still think cybersecurity is a buzzword, this reality check should change your mind.

To understand the magnitude of the problem, let’s look at the latest statistics:

• In Q2 2024, Check Point Research saw a 30% YoY increase in cyber attacks globally, reaching 1,636 attacks per organization per week.
• Top 3 most attacked industries were Education/Research (3,341 attacks per week), Government/Military (2,084 attacks per week) and Healthcare (1,999 attacks per week).
• Latin America, (+53%), Africa (+37%), and Europe (+35%) showed the largest increases in cyber attacks in Q2 2024, compared YoY.
• Africa experienced the highest volume of attacks with 2,960 weekly attacks per organization, followed by Latin America with 2,667 weekly attacks per organization.

• North America accounted for 58% of publicly extorted ransomware attacks victims. The Manufacturing sector represented 29% of the published ransomware victims globally, marking a 56% year-over-year increase.

Cyber-attacks are increasing world-wide, with a 30% increase in weekly attacks on corporate networks in in Q2 2024 compared to Q2 2023, and a 25% rise compared to Q1 2024 . With an average of 1,636 attacks per organization per week, the relentless onslaught of attacks underscores the growing sophistication and persistence of threat actors. Several cyber threat trends are all happening at once.

A Call to Action

Whether designing a new plant or developing a product, cybersecurity must be baked into the process from the start. Prevention isn’t just cheaper; it’s smarter. Cybersecurity isn’t just an IT/OT issue—it’s an organizational responsibility. It demands attention, investment, and action from the top down.

Are we prepared for what’s ahead? By acting today, we’re not just protecting data—we’re safeguarding lives, operations, and reputations.

References:

1. https://www.varonis.com/blog/cybersecurity-statistics
2. https://www.itgovernance.co.uk/blog/global-data-breaches-and-cyber-attacks-in-2024
3. https://blog.checkpoint.com/research/check-point-research-reports-highest-increase-of-global-cyber-attacks-seen-in-last-two-years-a-30-increase-in-q2-2024-global-cyber-attacks/