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The proliferation of the Internet of Things devices in the energy sector has broadened the threat landscape, necessitating increased cybersecurity attention.
Fremont, CA: The adoption of Internet of Things tools in the energy sector has increased over the last few years and shows no signs of slowing down. Smart meters, for example, have provided flexibility and resilience, as well as cost savings.
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However, these advantages are accompanied by new security concerns. "Utilities have geographic vulnerabilities in consumer-facing devices (either utility owned or simply grid connected) that may contain cyber vulnerabilities that could compromise either a company's revenue or the overall security of the grid," according to a McKinsey article on the subject.
Each IoT device could be a target for cybercriminals. "IoT security is critical largely because of the expanded attack surface of threats that have already been discovered," Trend Micro writes in a company blog post.
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Data Security in the Face of a Growing Threat Landscape
Following highly publicized ransomware attacks on utilities over the last year, security is top of mind for the energy sector. However, as energy providers deployed IoT devices during the pandemic, the attack surface has grown even larger.
Most utilities serve large geographic areas, and unmanned IoT devices have made it easier to provide continuous service from a more stable grid.
Common Security Issues Raised by IoT Devices
Despite their numerous advantages, IoT devices can pose security risks "by providing cyber criminals with access to connected networks, allowing them to steal critical corporate data and user credentials," according to Fortinet. "As a result, organisations must understand how to secure IoT devices and identify the top IoT vendors."
How Utilities Can Improve IoT Device Security
Some best practices, such as password management, network segmentation, and cloud-based solutions, must be implemented to reduce the risk associated with IoT devices
Strong passwords can aid in the prevention of many cyberattacks. Trend Micro advises users to find password managers who can assist them in creating unique and strong passwords that can be stored in the app or software itself. This practice is essential for IoT devices with limited computational capabilities and limited space to provide the robust data protection and security required to defend against cyberattacks.
