Study: Cyber attack could be costly, devastating
Companies including utilities, banks and phone carriers would have to spend almost nine times more on cybersecurity to prevent what is being called a digital Pearl Harbor that would plunge millions into darkness, Bloomberg reported.
A Bloomberg government study found that spies, criminals and hackers are stepping up assaults on U.S. government and corporate systems. That has spurred efforts by Congress and President Barack Obama to protect infrastructure that is essential to U.S. national and economic security, such as power grids and water-treatment plants.
Improving those systems would require a significant investment, given the increasing stealth and sophistication of hackers, according to Lawrence Poneman, chairman of the Poneman Institute LLC, which collaberated with Bloomberg on the study.
Poneman said the consequences of a successful attack could make the current cost increases in protection to look like “chump change.”
To read the full article in Bloomberg, click here.
Companies including utilities, banks and phone carriers would have to spend almost nine times more on cybersecurity to prevent what is being called a digital Pearl Harbor that would plunge millions into darkness, Bloomberg reported.
A Bloomberg government study found that spies, criminals and hackers are stepping up assaults on U.S. government and corporate systems. That has spurred efforts by Congress and President Barack Obama to protect infrastructure that is essential to U.S. national and economic security, such as power grids and water-treatment plants.
Improving those systems would require a significant investment, given the increasing stealth and sophistication of hackers, according to Lawrence Poneman, chairman of the Poneman Institute LLC, which collaberated with Bloomberg on the study.
Poneman said the consequences of a successful attack could make the current cost increases in protection to look like “chump change.”
To read the full article in Bloomberg, click here.
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