A recent study conducted by Ponemon Institute and sponsored by IBM Resilient found that 77% of respondents do not have a formal cyber security incident response plan applied consistently across their organization, while nearly half of the 2800 respondents reported that their incident response plan is either informal/ad hoc or completely non-existent.
Graham Ahearne, Corvil Director, Security Product Management, said that the advanced, persistent threat landscape in cyber security poses an enormous risk to global financial markets and Cyber Resilience can be built through standards, collaboration and AI-Powered Automation in these markets.
New guidelines are developed to help operators in addressing maritime cyber risks. With a series of classification notations, guidelines and services, operators can have a tool to help them comply with regulatory requirements, safeguard their crews and protect their assets from cyber attacks.
The UK P&I Club has compiled a bulletin answering to questions about cyber risks in the shipping industry in relation to P&I insurance. Considering that a cyber-attack could catastrophically impact the safe navigation of a vessel, maritime cyber risks come within the scope of P&I in case these arise from the operation of a ship.
In its March edition of ‘Phish and Ships’, Be Cyber Aware at Sea cited the most influential and destructive examples of ransomware currently emerging. Despite significant progress, ransomware is still difficult to stop even for Windows computers running antivirus. The only reliable defence is a backup, but even that can come under attack if it can be reached from the infected PC.
Ahead of EU GDPR entry into force, across the EU from 25th May 2018 onwards, an effective Cyber Security Management Plan could provide guidance to secure shipping companies and managed vessels from potential cyber threats.
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