The Vulnerability of Cyber Attacks on the Financial and the Energy Sectors

The Vulnerability of Cyber Attacks on the Financial and the Energy Sectors

We focus our discussion on the vulnerability of these cyberattacks on the financial and the energy sectors. In that context, a Russian official once commented in an interview that if there is an attack on the national targets like the transportation of the electricity distribution then that will have a much more bitter consequence than the use of a weapon on mass destruction. (Tenet, 1998)In 1996, in a military publication, a Chinese General commented on three vulnerable ways of cyber attacks on their enemies. According to him, they can disrupt the command centres of their enemies by changing the data systems, they can force the enemies to make misjudgments by sending disinformation and they can even dominate the banking system and entire social order by performing cyber attacks on their enemies. (Serabian, 2000) The main way of attack in the cyberattack is through E-mails, as it is the most common mode of communication in the present world. The spam attack is the most common way of a cyber attack through E-mails. These types of attacks are mainly done to disrupt the proceedings of large enterprises and Governmental departments. The global connectivity of the corporate and the susceptibility of the network infrastructure are the major source of attraction of cybercrimes. The management authorities of many companies lack the potential of determining the exact cyber risk to which the company is exposed and hence, fall under the trap of cyber attack. The companies and the government departments are assembling legal firewalls and latest anti-virus programs to reduce the chances of cyber attacks but they are still not fully protected. The higher officials of different organizations are constantly working on increasing their knowledge of cyber laws and the attacks so that they can take proper initiatives in controlling the attacks.They can not afford to risk their security of operational and financial proceedings on the hands of cyber predators. (Carafano, 2009. Leggiere, 2009. CDWG, 2009, pp. 5-10. McCarter, 2009)

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