Ransomware attacks are the fastest growing form of cyberattack worldwide. With a 500% rise in ransomware attacks against industrial entities between 2018 and 2020, power grid cybersecurity leads have their work cut out getting on top of this ever changing, highly disruptive and hugely costly form of attack. The availability of more advanced encryption technologies, the rise in the value of cryptocurrency, the explosion of Ransomware-as-a-Service offerings on the dark web, and the sudden expansion of the victim pool through WFH and BYOD trends, has made ransomware attacks the go-to exploit for semi-skilled cybercriminals looking to maximise their ROI. As cybercriminals shift their attention away from low value ‘spray and pray’ targeting methods to higher value ‘big game hunting’ approaches, power grid cybersecurity and engineering teams must prepare now to fight a more ferocious and frequent cyber battle in the year ahead.

In this 60-minute webinar, we explore the factors fuelling the explosion of ransomware activity in the power grid environment, and examine the prevention, detection and response strategies that cybersecurity leads must employ to get ahead and stay ahead of the attackers. We consider how more reliable data backups can be created to support business continuity in the face of an attack, and how incident response strategies must transform to better support the attribution process, bring cybercriminals to justice, and deter future attacks.

When cybersecurity leaders get on top of their cyber hygiene, implement a reliable data backup strategy, develop a robust incident response procedure, refuse to pay the ransom, and pin their reputations to ‘fighting’ rather than ‘siding’ with cybercriminals, the power grid becomes unapproachable to thrill-seeking, havoc-wreaking, ROI-chasing cybercriminals!