By Jay Lakhani, Co-Founder and Director Chemaxe
It has been more than two decades since the world was introduced to the Internet. Continuous innovations have dramatically improved its availability, usability, and performance. Today, unamusingly, there are over 5.47 billion active Internet users. This massive worldwide network generates billions of dollars for the world economy. Most international relations, commerce, economics, culture, social interactions, and government operations now occur online between nations at all levels, involving individuals, non-governmental groups, and governmental institutions.
As technology interconnectedness grows and concepts like the ‘Internet of Things’ and the ‘Fourth Industrial Revolution’ become more widely understood, the benefits of such complex networks grow, but so do the threats. These advanced systems enable unprecedented efficiency, productivity, and innovation across industries, from manufacturing to healthcare. However, they also create new vulnerabilities. The interdependence of devices and systems means that a single security breach can have cascading effects, potentially disrupting entire networks and critical infrastructures. Cybersecurity becomes paramount as malicious actors exploit these interconnected systems to launch sophisticated attacks, compromising sensitive data and threatening both economic stability and personal privacy.
With the chemical industry’s increasing reliance on computerisation and automation, it is becoming a prime target for cyber attacks. These attacks can have potential consequences that are not limited to the exposure of sensitive information or disruption of production. They can also manipulate or damage computer systems, potentially pushing equipment beyond its safety limits and causing physical harm. This global threat underscores the urgent need for robust cybersecurity measures in the chemical industry. Proactive strategies, including real-time monitoring, advanced threat detection, and comprehensive incident response plans, are essential to protect against these sophisticated attacks and ensure the safety and integrity of chemical processes.
One of the most well-known cyber attacks on the chemical industry occurred in 2017 when a Saudi petrochemical factory was attacked. The attackers used the ‘Triton’ malware to gain access to a critical safety system. It exploited a flaw in the Windows operating system. The potential for calamity was so great that it became known as “the world’s most murderous malware.” Other systems, aside from the most important or dramatic, are vulnerable to cyber-attacks. Non-safety systems, such as HVAC and business networks, could potentially be targeted. While there may be less immediate effects, this can result in a loss of reputation and money.
Blackfog, a global cybersecurity firm, projects that ransomware attacks have inflicted a staggering $6 trillion in damages today, a figure that has doubled since 2015. These attacks, along with data breaches, phishing attacks, and denial-of-service attacks, pose a significant risk to individuals, businesses, and governments worldwide. The severity of these threats is particularly evident in countries that were unprepared in terms of policy, regulation, institutions, and skills, leading to substantial losses.
Cybersecurity management is the umbrella term for the set of policies, guidelines, and practices needed to safeguard a business’s digital assets. This involves guarding against cyberattacks, unauthorised access, and data corruption on computer networks and integrated devices. An unlawful attempt to gain access to a computer network by viruses, malware, or social engineering is known as a cyber attack. These threats are not confined to a specific region or industry but can originate from any location in the globe. In contrast, local issues like site access, insecure connections, inadvertent employee behaviour, physical theft, or sabotage may also be included in the context of cyberattacks. This global nature of cyber threats highlights the shared responsibility we all have in combating them, empowering us to take action and protect our industries.
Recognising potential hazards and how to avoid or manage them is critical. Developing policies and methods tailored to the needs of certain locations is also critical. However, it’s not enough to have a single layer of security. A robust cybersecurity plan should include multiple detection and prevention mechanisms, with each level of security complementing the others. This comprehensive approach, along with explicit plans and contingencies, is the key to increasing resilience to cyber threats, regardless of industry. By implementing such a plan, we can feel reassured that we are taking the necessary steps to protect our industries.
In conclusion, the integration of the Internet into global communication and daily life has brought unparalleled advancements and conveniences, but it has also introduced significant cybersecurity challenges, particularly in sensitive industries like the chemical sector. As the chemical industry continues to evolve with increasing digital interconnectivity, the importance of prioritising and integrating cybersecurity into every facet of risk management cannot be overstated. It is not just a matter of best practice but a necessity to protect against the ever-evolving landscape of cyber threats.