The cost of a cyber-attack on an operation technology (OT) system can vary widely depending on several factors, such as the type of attack, the severity of the impact, and the specific industry or sector in which the system is located. However, some potential costs of a cyber-attack on an OT system include:
Direct costs: These include the cost of restoring or replacing damaged equipment, as well as the cost of any lost production or revenue due to system downtime. For example, a ransomware attack on a power plant could cause significant disruption to the power supply and lead to expensive repairs.
Indirect costs: These include the cost of responding to the attack, such as hiring outside experts to investigate the incident and implement security measures to prevent future attacks. It also includes the cost of any lost reputation or customer trust resulting from the attack.
Business interruption costs: This includes the cost of lost revenue due to the disruption of operations caused by the attack, such as the shutdown of a production facility, the inability to ship goods, or the loss of customer trust.
Compliance costs: This includes the cost of complying with any regulatory or legal requirements resulting from the attack, such as fines or penalties for failure to protect sensitive data.
Cyber insurance costs: This includes the cost of purchasing and maintaining cyber insurance, as well as any claims paid out due to a successful attack.
It’s important to note that the cost of a cyber-attack on an OT system can be difficult to quantify, as the long-term impact of an attack may not be immediately clear. Additionally, in critical infrastructure, the disruption of the system can lead to significant safety and health risks, which can cause further costs and have a big impact on the society.
Australian Control Engineering is specialised in operation technology network audit, automation design and implementation for utilities industry. If you would like to learn more about our capability and understand how we can help you accelerate your results, please Contact us.