06 May Major Mining Corporation Hacked
Major mining corporation hacked and their confidential information made public
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 were leaked on a torrent free for anyone to download.
Last year a German steel mill was significantly damaged by a cyber attack.
Hackers find ways to tap in the complexities of the IT networks of corporations and governments around the world leading in this case to Major Mining Corporation Hacked.
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.
Need for convergent ERM
There are 4 types of interdependencies, logical, physical, geographical, and informational to be considered in Enterprise Risk Management (ERM) approaches.
This is why cyber risks are not to be seen as a “Information Technology (IT) silo”, but should be treated 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 tool available world-wide to bring ERM solutions for complex interdependent systems like the army. Days before the Goldcorp hack was reported in the media, we presented at CIM MES here in Vancouver a conferencewhich demonstrated the similarities between the Army and large mining companies ERM requirements and solutions.
Solving complex interdependent systems ERM issues
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:
- the complexities and interdependent aspects of convergent risk assessments,
- their link to Corporate Social Responsibility (CSR) and Social License to Operate (SLO), as well as
- the negative effects of “silo” culture.