From Technology to People: The New Frontier in Mining Cyber Risk
Cyber security represents a fundamental challenge for organisations and is seen as a top priority for boards. Malicious hacking, ransomware attacks, data leaks and electronic fraud are occurring on a global basis, where the motives vary from financial, political or merely to cause disruption. The recent global ransomware incidents WannaCry and NotPetya have shown us that:
- No one is immune. Attacks do not need to be targeted at a specific company or industry sector.
- Cyber-attacks lack a geographical boundary. Rogue actors are easily able to bridge the geographical boundaries of an organisation’s operation that do not exist in the globally connected world.
- The potential systemic risk which can arise from a cyber-attack is far from theoretical.
Mining industry particularly vulnerable
Within the mining sector, the convergence of IT and operational technology (OT) through industrial automation, the uptake of smart devices for real-time operations management and remote operations, and the adoption of cloud services are driving significant change to a mining company’s operational model. The modern mining company is a transnational corporation, running highly coordinated production operations across multiple sites in multiple countries with varied geopolitical climates, all the while responding to the supply and demand needs of a market-driven economy.
To read this full report from Willis Towers Watson, view the document below.