Moody's turns up the heat on 'riskiest' sectors for cyberattacks
About $22 trillion of global debt rated by Moody's Investors Service has"high," or"very high" cyber-risk exposure, with electric, gas and water utilities, as well as hospitals, among the sectors facing the highest risk of cyberattacks.
That's more than one-quarter of the $80 trillion in Moody's rated debt across 71 global sectors, and it represents a $1 trillion jump from the firm's 2019 numbers, according to the credit rating biz., Moody's looks at two factors, exposure and mitigation, and weighs both across all of the sectors it rates.
Exposure includes the industry's"systemic role" — its attractiveness as a target from an attacker's perspective looking to trigger maximum disruption, along with its interconnectedness to other sectors — and"digitatization" or its digital footprint, which expands the potential attack surface. Mitigation includes perimeter vulnerability, basic cybersecurity practices and estimated financial losses. In determining perimeter vulnerability, Moody's takes into account at-risk open ports and patching cadence, which it gleans from data and metrics provided by cyber-ratings company BitSight, of which Moody's owns a minority stake.
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