New Survey Highlights Rising Ransomware Threat, Proactive Security Changes, and Significant Insurance Gaps
TEL AVIV, Israel, July 22, 2024 (GLOBE NEWSWIRE) — As the cybersecurity landscape continues to evolve, OTORIO has released its latest research report, revealing key insights into the current state of OT (Operational Technology), IoT (Internet of Things), and CPS (Cyber-Physical Systems) security. The study, titled “Mid-Year OT-IoT-CPS Cybersecurity CISO Report,” explores current trends, challenges, and strategies being adopted by industry leaders to protect critical infrastructure from cyber threats.
Key findings include:
Significant disruption due to cyberattacks: A staggering 88% of security leaders reported experiencing moderate to severe disruption to business operations due to cyberattacks in the past year.
Increase in ransomware attacks targeting OT environments: A growing number of ransomware attacks, 40% of which lack an IT component, highlighting the direct risk to OT environments.
Shift to proactive security measures: With 40% of enterprises now leveraging exposure management, we are seeing a notable shift to a proactive OT security approach.
Challenges in Cyber Insurance Coverage: Despite the growing threat, 71% of companies revealed that their cyber insurance does not fully cover OT, highlighting a significant gap in coverage.
Increased collaboration for OT security: 45% of companies have established joint IT/OT security taskforces, highlighting the importance of cross-functional cooperation in mitigating cyber risks.
OTORIO’s report also details strategies being adopted by leading organizations to navigate these challenges, providing actionable insights for security leaders to strengthen their OT-IoT/CPS security posture, including budget allocation, technology adoption, and regulatory compliance.
“We’re excited to share these findings with the cybersecurity community,” said Daniel Bren, CEO and co-founder of OTORIO. “It’s critical for organizations to stay ahead of evolving threats and take proactive measures to protect their critical infrastructure.”
For more information, download the full report to access comprehensive analysis and recommendations for strengthening OT security.
Contact: Sara Flack OTORIO Ltd sara.flack@otorio.com
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