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The Major Mining Corporation Hacked scenario we had predicted and explained has occurred. Indeed last week Goldcorp’s (TSX:G) payroll, trade secrets, and other intimate information leaked on a torrent free for anyone to download.
Last year a cyber attack significantly damaged a German steel mill.
Especially with the advent of IoT (Internet of Things) cyber attacks have the ability to generate multi-faceted consequences on interdependent systems. These were physical for the German steel mill, informational for the Canadian gold mining company.
There are 4 types of interdependencies:
Enterprise Risk Management (ERM) approaches have to consider them all.
This is why cyber risks are not a “Information Technology (IT) silo”, but we have to treat them as an ERM component. As we showed in a previous post IT silo lead to inefficiencies.
The Armed Forces of a European country came to the conclusion that ORE is the only available toolbringing ERM solutions for complex interdependent systems. Days before the Goldcorp hack reports in the media, we presented at CIM MES here in Vancouver a conference which demonstrated the similarities between the Army and large mining companies ERM requirements and solutions.
Riskope’s scalable, drillable, convergent ORE (Optimum Risk Estimates) ERM platform, sole sourced by Armed Forces for convergent cyber risks analysis (convergent means in this case multi-hazard, i.e. simultaneous cyber and all other hazards) has been created to solve these conundrums.
In the conference we explored: