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Take the example of Norsk Hydro, a multinational aluminum manufacturer that was forced to shut down operations in the face of a ransomware attack across its systems. They opted not to pay the ransom, but the interruption to their operations cost them nearly $75 million. The news is rife with examples like this, and regulators have taken notice and are forcing manufacturers to act. But safeguarding OT assets can be challenging amidst competing business priorities, a broad attack surface, and unclear ownership.
Ransomware has become more common for manufacturers, causing shutdowns, financial losses, and logistical nightmares. According to a study by McKinsey, cyberattacks and ransomware instances increased 87% across all industries in 2022. ICS Strive, an online database of OT attacks, recorded 68 known attacks on OT and ICS networks in 2023, impacting more than 500 physical sites. The increased frequency of ransomware can be attributed to volatile geopolitical conditions. Bad actors are increasingly targeting critical manufacturing supply chains and infrastructure as tensions between countries escalate, compromising intellectual property, production continuity, and safety.
They also create substantial safety concerns for workers, assets, and the environment. While threats, industry, and technologies are evolving, so are compliance regulations. Governments are moving quickly to keep pace with modern malware techniques through policy change and enforcement. Manufacturers must keep themselves informed on the latest regulation changes to safeguard their operations from these threats or else face legal consequences and operational disruption.
The waters of IT security have always been treacherous, and they have only become more so with these new waves of OT vulnerabilities.