NAVIGATING DIGITAL THREATS - GHD DIGITAL RELEASES LANDMARK REPORT ON SAFEGUARDING CRITICAL INFRASTRUCTURE SECURITY

Securing the backbone of our communities: Critical infrastructure cybersecurity

HOUSTON, April 22, 2024 /PRNewswire/ -- GHD Digital, the digital transformation business of professional services firm GHD, has launched its newest cybersecurity report to help industry, municipalities and governments detect, mitigate and manage cyber threats. The report, titled Securing the backbone of our communities: Critical infrastructure cybersecurity, explores the vulnerabilities of critical infrastructure, industry trends, and offers best practices for effective risk mitigation to stay ahead of evolving cyber threats.

Because of the increase in digitalization used in the public and private sector, the frequency of cybersecurity attacks on critical infrastructure is rising at an average annual rate of 125 percent. In 2023, the total number of attacks increased 2.5 times when compared to data from 2022. These cyberattacks targeting critical infrastructure including power grids, utility operators, commercial ports, water treatment plants, and dams pose a significant risk leading to substantial economic losses and prolonged service disruptions. Managing a data breach in critical infrastructure is estimated to cost USD 5.5 million, surpassing expenses incurred in other industries such as retail, pharmaceuticals, hospitality, and entertainment where the average cost of handling a data breach is USD 4 million.  

GHD Digital research indicates that more than half of global critical infrastructure suppliers have experienced attempts to control and shut down their systems via ransomware attacks, insider threats, and malicious actors. The World Economic Forum's Global Risks Report 2024 also identified cybersecurity as a top ten major risk over the next decade. 

With that in mind, GHD Digital's report includes a framework with practical steps for organizations to identify, manage, and mitigate evolving threats including the following recommendations:

• Board and executive ownership
• Aligned cybersecurity strategy
• Understanding assets
• Government and industry collaboration
• Regular cybersecurity risk assessments
• Continuous monitoring and threat intelligence
• Incident response planning
• Embedding Security by Design

"Encouraging organizations to take practical steps to fortify their infrastructure against cybersecurity challenges contributes to a more resilient and secure digital future for all," said Kumar Parakala, president, GHD Digital and co-author of the cybersecurity report. "Our cybersecurity report offers comprehensive analysis and strategic insights to empower decision-makers, policymakers, and cybersecurity professionals with a roadmap to strengthen critical infrastructure against emerging digital threats, fostering resilience and business continuity."

GHD Digital prepared its report recommendations by aligning with guidance from various government and industry sources. These include the U.S. Department of Homeland Security, the Cybersecurity and Infrastructure Security Agency, the National Institute of Standards and Technology, the Industrial Control Systems Cyber Emergency Response Team (ICS-CERT), Critical Infrastructure Protection Standards, The Center for Internet Security, and the Information Systems Audit and Control Association.

About GHD Digital

GHD's digital transformation business, dedicated to helping clients unlock innovation, embrace the future and change communities for good. Our diverse and talented team of more than 600 people include data scientists, design thinkers, immersive digital consultants, project managers and innovators. With the combined global and local expertise of GHD's 11,000+ engineering, advisory, architectural, environmental, and construction experts, we help navigate and solve complex challenges with advanced technology. www.ghd.com. 

In January 2024, independent research conducted by the Environmental Financial Consulting Group (EFCG) recognized GHD Digital as a top global leader in digital transformation within the USD 200 billion global AEC (architecture, engineering and construction) sector.

Photos of Kumar Parakala are available upon request.

Contact:
Natalie Cousens
Global Marketing and Communication Leader, GHD Digital
[email protected]
+1 416 884 2351

SOURCE GHD Digital