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Ransomware-as-a-Service, Supply-chain Attacks, Geopolitical Issues Complicate OT/ICS Cybersecurity for Global Industries, TXOne Networks Report Reveals

Ransomware-as-a-Service, Supply-chain Attacks, Geopolitical Issues Complicate OT/ICS Cybersecurity for Global Industries, TXOne Networks Report Reveals

Findings illustrate need for Cyber-Physical Systems Detection and Response for combatting both known and unknown threats

IRVING, Texas, and TAIPEI, Taiwan, January 30, 2024 TXOne Networks, a leader in Cyber-Physical Systems (CPS) security, published its 2023 annual report detailing a growing range of cybersecurity issues facing global industries. The Crisis of Convergence: OT/ICS Cybersecurity 2023, which is publicly available for free download, details diverse intensifying challenges, including growth in attacks via Ransomware-as-a-Service (RaaS) models, exploitation of supply-chain vulnerabilities and prevalence of state-sponsored hackers and other politically motivated actors in the wake of geopolitical issues.

TXOne Networks in September 2023 surveyed 405 key IT and OT security decision-makers from across multiple global markets and sectors including automotive, pharmaceuticals and biotechnology, chemical, general manufacturing, oil, and gas and transportation. The Crisis of Convergence: OT/ICS Cybersecurity 2023 distills the survey findings, alongside extensive TXOne Networks threat research from 545 cybersecurity incidents around the world in 2023.

“The threat landscape has intensified significantly in the industrial manufacturing and critical infrastructure sectors, leading to destructive events, economic losses, and potential risks to human safety …,” reads the TXOne Networks report, which was produced in collaboration with Frost & Sullivan. “Organizations emphasize the protection of critical OT (Operational Technology) assets as a top priority, with data security being a key investment area within their OT security budget allocations. Organizations are also seeking to invest in strengthening the resilience of their technological infrastructure and are turning to innovative approaches like Cyber-Physical Systems Detection and Response (CPSDR), which integrates OT expertise across various domains. This enhances OT security posture and resilience against evolving threats, enabling organizations to better protect their operations and ensure resilience in the face of a constantly changing threat environment.”

The Crisis of Convergence: OT/ICS Cybersecurity 2023 explores a range of topics relevant to contemporary OT/ICS cybersecurity:

  • Ransomware threats
  • OT system maintenance and Information Technology (IT) integration concerns
  • Nation-state cyberattacks and implications
  • Dedicated teams for OT and Industrial Control System (ICS) security management
  • OT/ICS cybersecurity investment
  • New regulations and standards propelling OT/ICS defense
  • Supply-chain Integrity

The Crisis of Convergence: OT/ICS Cybersecurity 2023 is the result of a thorough research and technical analysis that is aimed at delivering up-to-date insights into the global threat landscape and the tactics that malicious actors employ to launch attacks,” said Terence Liu, chief executive officer (CEO) of TXOne Networks. “The findings are clear. Organizations must move well beyond regulatory compliance in their OT/ICS cybersecurity strategies if they are to successfully adapt for the constantly evolving threat. Safeguarding the availability, reliability and security of revenue-generating operations will depend on new governance structures, enhanced team and technical capabilities, integration of advanced threat detection and response into cybersecurity frameworks and risk management across the supply chain.”

Download TXOne Networks’ The Crisis of Convergence: OT/ICS Cybersecurity 2023.

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About TXOne Networks

TXOne Networks offers cybersecurity solutions that ensure the reliability and safety of industrial control systems and operational technology environments. TXOne Networks works together with both leading manufacturers and critical infrastructure operators to develop practical, operations-friendly approaches to cyber defense. TXOne Networks offers both network-based and endpoint-based products to secure the OT network and mission-critical devices using a real-time, defense-in-depth approach.

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Minu Seshasayee
Interprose for TXOne Networks
[email protected]
+1 425.283.7426

Press Release by Interprose for TXOne Networks
31 January 2024, 15:45

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Minu Seshasayee

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