FOCUS 16
HOW VALUABLE ARE OIL AND
GAS BUSINESSES TO CYBER CRIMINALS?
by MALCOLM MARSHALL, PARTNER, KPMG
Cyber-crime is always high on the boardroom agenda for fi nancial institutions and internet businesses globally. But surely oil and gas executives can rest easy? After all, you can’t steal oil and gas using a laptop. Think again.
In a world where accessing resources is key to national and international competitiveness, the Oil & Gas sector has found itself at the centre of a 21st century battle for economic power being played out in cyber-space.
IN THE UK ALONE, CYBER- ATTACKS COST SOME £27 BILLION A YEAR, ACCORDING TO THE UK CABINET OFFICE1
Companies in the sector have had, and continue to have, their cyber-security compromised. This ranges from attacks by hacktivists or a counterparty during mergers and acquisitions to steal high-value intellectual property, to the theft of sensitive data during critical negotiations. Attacks can be detrimental to the industry and there have been instances where the damage to IT infrastructure is to such an extent that companies in the sector have been close to being shut down.
The threat of state-sponsored cyber-warfare is not inconceivable particularly for an industry providing critical national and global infrastructure. Hostile nations and terrorist organisations could attack the sector to bring production to a halt at times of political tension or war – made possible by the high levels of automation
1
http://www.parliament.uk/briefi ng-papers/post-pn-389.pdf © 2013 KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member fi rm of the KPMG network of independent member fi rms affi liated with KPMG International Cooperative, a Swiss entity. All rights reserved.
BACK TO CONTENTS
CYBER
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29