Increase in Cyber Assaults Targeting Child Protective Services Infrastructures
In a recent report titled "The Global State of CPS Security 2024: Business Impact of Disruptions," published by Claroty, the cybersecurity landscape for asset-intensive organizations in the Australia and New Zealand (ANZ) region has been under the spotlight. The report, based on a global survey of 1,100 professionals, reveals significant improvements in CPS security, growing concerns, and the need for further action.
The impacts from cyber attacks on ANZ organizations can be severe, often necessitating substantial losses to invest in necessary cybersecurity measures. Unfortunately, this problem is particularly acute in the healthcare sector, with 78% of global respondents reporting ransom payments over USD500,000.
However, there are signs of progress. 36% of ANZ organizations are already seeing quantifiable improvements in their CPS security. This positive trend is echoed by the fact that 73% of ANZ organizations have greater confidence in the ability of their organization's CPS to withstand cyber attacks today compared to 12 months ago.
Despite these improvements, organizations in the ANZ region have identified certain security capabilities they lack, which could have decreased the negative impacts experienced. For instance, 16% of respondents cited a lack of exposure management, and 14% mentioned not having an OT-specific SOC to respond to attacks.
The losses in the ANZ region are primarily due to factors such as loss of customer or partner relationships (19%), lost revenue (15%), and regulatory fines (12%). Furthermore, ransomware plays a significant role in recovery costs, with three-quarters of respondents paying over USD500,000 to recover access to encrypted systems and files.
The growing risk to CPS in the ANZ region has been reflected in legislative changes, including the SOCI Act and industry-specific standards such as AESCSF. These measures ensure organizations have an accurate inventory of all CPS assets and an understanding of the key risks these assets face.
The report also underscores the importance of implementing secure access principles for both third-party contractors and internal users to provide additional layers of auditability and monitoring on critical assets. This is particularly important given that 93% of ANZ organizations surveyed experienced one or more cyber attacks originating from third-party supplier access to their CPS environment, and 47% reported five or more attacks.
Looking ahead, 100% of ANZ organizations expect to see quantifiable improvements in their CPS security in the next 12 months. This optimism is rooted in a shift in thinking, where cybersecurity is no longer viewed as an optional expense but as core to delivering on an organization's mission. Organizations are starting to see the payoff of making investments in CPS security.
In conclusion, the report serves as a call to action for ANZ organizations to strengthen their CPS security posture, particularly in areas such as exposure management and third-party connectivity. By doing so, they can mitigate the risks of cyber attacks, protect their critical assets, and ensure business continuity.
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