The cyberattack launched at a Ukraine power station last December, which cut off supply to thousands, is likely to be followed by more attacks targeted at infrastructure warns the founder of security firm Kaspersky Lab.
Eugene Kaspersky, who is visiting London this week, warned that the Ukraine power supply was quickly restored using manual override to restart this system but this would not be as easy with more modern and sophisticated power systems.
Other recent attacks cited by Kaspersky included the cyberattack revealed in December 2014 on the network at a German steel mill, which caused extensive damage to the blast furnace and a 2013 attack on South Korea that temporarily knocked out broadcasters and the banking system.
Kaspersky also expects more attacks on financial targets, after hackers recently stole funds from Bangladesh’s central bank and moved the Russian ruble’s (RUB) exchange rate.
“Criminal innovations that we see in some parts of the world become massive because criminals communicate,” Kaspersky said in an interview with Bloomberg TV. “The most professional cybercriminals are looking for new types of victims – stock exchanges, for example.”
He adds that the threat divides into two main categories: criminal attacks and cyber sabotage. The incidence of criminal attacks is growing, although not all are disclosed. Worryingly, there are also a growing number of sabotage attacks, where the motive is to paralyse a system rather than gain financially.
At a launch held at London’s Science Museum, the group released details of its specialised solution to secure critical infrastructure and industrial facilities.
Kaspersky Industrial CyberSecurity is described as “a unified, holistic approach to IT security for industrial facilities, combining the company’s leading technologies, services and intelligence in one unique package.
Kaspersky Lab said that the solution addresses “the urgent need to comprehensively manage industrial cyber-risks and protect the continuity and integrity of systems that are vital to the economy and people’s health and welfare.”
Criticisms of bitcoin by JP Morgan Chase’s boss have been denounced by a UK academic as “ironic” and “hardly surprising” considering the impact bitcoin could have on financial intermediaries.
Leaked documents from the UK Home Office proposing that low-skilled EU migrants would be restricted in the UK’s post-Brexit immigration scheme may be more likely to increase automation and off-shoring of labour, rather than increase British wages, industry experts have warned.
The European Central Bank's (ECB) hotly anticipated meeting on Thursday afternoon made the euro skyrocket, as president Mario Draghi announced interest rates would remain at 0% and its quantitative easing programme will stay until at least the end of 2017.
The “sad truth” of banking is that many jobs will be automated in the future, Deutsche Bank's chief executive said yesterday. Despite this, a recent survey found that 98% of European workers are optimistic about the changes automation will bring to their workplace.