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Threats against Critical Infrastructure Attackers often target essential servicessuch as power grids, water supplies, or transportation systemsthreatening severe disruption unless paid. Service outages ultimately frustrate customers, leading to churn and loss of trust. fuel pipeline, causing widespread disruptions.
It focused on identifying the most critical business processes and developing plans to keep those processes going or quickly restore them in the event of an outage. The end of the 20 th century saw the increasing importance of IT, the rise of globalization, and preparations for the potential disruptions of the Y2K bug.
Threat intelligence empowers organizations to proactively identify, assess, and mitigate risks associated with threats of all types, thus helping them protect their assets, reputation, and business continuity. The reason for monitoring threats is to enable the organization to take educated actions to avoid them or mitigate their impact.
Mitigating supply chain risk After widespread coverage, the CrowdStrike outage from 19 July 2024 hardly needs an introduction. The outage was caused by a bad security update rolled out by CrowdStrike. Without question, this is one of the most expensive IT outages to date, with significant global impact. billion (about £4.2
It can result in power outages, transportation disruptions, and, most critically, could pose serious health risks to people. Understanding local risk profiles helps mitigate, prepare for, and respond to extreme cold emergencies. The impact of cold emergencies goes beyond discomfort. Especially vulnerable populations.
Related on MHA Consulting: The Art of Explaining: MHA’s Best Crisis Communications Resources We business continuity professionals spend a lot of time telling our colleagues and clients about the negative impacts an organization can experience if it gives short shrift to the need to become resilient and plan for outages.
Climate-related disasters are only increasing, which is in turn increasing the costs associated without proper mitigation steps. For example, in February 2021 a severe winter storm hit Texas , causing widespread power outages and water shortages. billion in damage to physical assets in the US alone.”
A recent Pure Storage survey found that 69% of organizations consider recovering from a cyber event to be fundamentally different from recovering from a “traditional” outage or disaster. This includes incident response planning, analysis, mitigation, and communication.
As a second example, a logistics and transportation company shared the following scenario: “On a Friday morning, we noticed many of our staff were not showing up to work, causing a major staff shortage. As a result, our risk planning, mitigation and control activities followed suit, identifying the volcano as the greatest risk.
This caused a major outage in many sectors, including transportation, and CrowdStrike customers scrambled to roll back their systems or implement a workaround to restore systems to working order. We cannot prevent 100% of outages, but collectively we can prevent most and mitigate the impact of those that occur.
We already saw back in November 2020 the potential for large-scale failures when AWS had an outage that affected a number of well-known and widely used companies such as Adobe, Glassdoor, and Roku. This year alone, cybercrime is anticipated to reach damages of at least $6 trillion USD worldwide , and by 2025 skyrocket to nearly $11 trillion.
For instance, how would a prolonged drought affect supply chains, and what measures can mitigate those impacts? For example, flood-resistant buildings or renewable energy systems that ensure power continuity during outages can significantly reduce vulnerabilities. Infrastructure investments are equally important.
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