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New York Suffered $775M Loss In Cyberattacks On Critical Infrastructure in 2022

Analytically, New York had the third-highest number of ransomware attacks and corporate data breaches in 2022, behind California and Texas. The state is a densely populated borough that’s among the world’s major commercial, financial, and cultural centers.

New York Loses Critical Infrastructural

New York’s cyberattacks on critical infrastructure are on the rise, according to a report the state comptroller’s office issued. The bustling state suffered more than 25,000 cyberattacks in 2022, about 53% up from 16,400 incidents in 2016, in a jaw-dropping loss of $775 million.

Attacks on critical infrastructure include systems and assets that are vital for the functioning of society, the economy, and national security. Cyberattacks are a serious threat to New York’s critical infrastructure, economy, and everyday lives, a Times Union report says.

Moreover, cyber data breaches at firms and institutions that collect large amounts of personal data often expose citizens to potential intrusion of privacy, identity theft, and fraud.

According to the report, attacks on critical infrastructure in New York last year involved nine incidents in health care and public health, eight occurrences in financial services, and seven occurrences in both commercial and government offices.

Furthermore, more troubling are events such as ransomware or DDoS attacks that potentially shut down operating systems that many relied on for water, power, health care, and other necessities, DiNapoli explained.

Weak Cyber Security Measures

The report highlights numerous weaknesses in its cybersecurity, keys like unsupported applications, unknown data on systems, disappointing access controls, and a disturbing lack of monitoring system changes.

However, to reduce the leak in security and frequency of cyber breaches and ransomware in the state, the comptroller’s office suggested stronger cybersecurity awareness training and establishing contingency plans in the face of potential future incidents.

Undeniably, as technologies advance, exploitations of technological vulnerabilities also evolve. Heightening protective measures against threat actors requires committing time to constant innovation to proactively protect and remain two steps ahead of exploiters, the report says.

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