Has the Russian hack worried you? It should

Vladimir Putin’s invasion of Ukraine prompted a litany of measures by NATO and the West to end Russian aggression, including heavy sanctions, the supply of defensive weapons and the seizure of financial assets.

“But there is a much more direct war that the collective West and Russia have been waging for a decade or more – a series of battles in cyberspace that seem to only get worse as more open conflicts erupt,” recently wrote Kevin Curran of TheStreet. on real money.

Curran noted that in 2022, three separate reports were released by the US Cyber ​​and Infrastructure Security Agency (CISA) related to increased Russian hacking.

“Russia continues to target critical infrastructure, including undersea cables and industrial control systems, in the United States and in allied and partner nations because compromising this infrastructure enhances – and in some cases can demonstrate – its ability to damage infrastructure during a crisis,” the agency advised in a recent report. “Russia almost certainly views cyber attacks as an acceptable option for deterring adversaries, controlling escalation, and prosecuting conflict.”

Curran noted that more “politically motivated attacks against these critical sectors are expected. Whether it’s the energy sector as a whole or Microsoft’s recent Solarwinds hack (MSFT) – Get the Microsoft Corporation reportthere seems to be no limit to the size and scale of these attacks,” he wrote.

Alex Lam, director of strategy and business development at TechDemocracy, told Curran that “no industry is immune to cyberattacks, and given the current state of financial and banking, healthcare, telecommunications and energy are more vulnerable than others”.

According to Lam, the impact for cloud providers like Amazon.com (AMZN) – Get the report from Amazon.com, Inc.IBM (IBM) – Get International Business Machines Corporation reportAlphabet (GOOGL) – Get the Class A report from Alphabet Inc., and Microsoft could be quite large and will therefore require more defense spending. In addition, he indicated that more attention should be paid to the individual level for the password protection of smartphones and PCs.

“For investors, this represents an opportunity in the broader cybersecurity space,” Curran wrote.

“Cybersecurity companies such as Palo Alto Networks (PANW) – Get the report from Palo Alto Networks, Inc. and Crowdstrike (CRWD) – Get the Class A report from CrowdStrike Holdings, Inc. are well positioned to help meet organizations’ needs for protection against cyberattacks,” Therese Schachner, cybersecurity consultant at VPN Brains, told Curran. , malware defense and incident response.”

At the individual level, NortonLifelock (NLOK) – Get the NortonLifeLock Inc. report. and Fortinet (FTNT) – Get the Fortinet, Inc. report. are likely to benefit from a similar dynamic.

“Cisco (CSCO) – Get the report from Cisco Systems, Inc. the recent acquisition of DuoSecurity for password protection is also likely to prove prescient in today’s environment,” Curran added. “Judging from the momentum in stocks lately, the market is growing to appreciate the large-scale opportunity.”

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