The rise in cybersecurity attacks targeting critical infrastructure has become an urgent national security concern, impacting business operations and community safety. A recent SP Global report reveals that physical security incidents on the U.S. power grid, which resulted in measurable outages, increased by 71% from 2021 to 2022. This highlights the vulnerability of essential services like energy, utilities, and power grids and the serious consequences of any disruptions.
Cybersecurity risks are just as alarming. Nearly 38% of utility companies worldwide had weak cybersecurity management practices in 2022, leaving critical systems exposed to potential cyberattacks that could disrupt energy supply, endanger public safety, and destabilise operations. The increasing use of connected devices in these sectors only adds complexity, opening up more opportunities for cybercriminals to exploit vulnerabilities.
Significant Cybersecurity Lapses
One example of how significant cybersecurity lapses can be is the 2017 Equifax data breach. Hackers took advantage of an unpatched vulnerability in Apache Struts despite a public warning. The breach exposed the personal information of 143 million Americans and cost the company over £1.4 billion in damages. This breach shows the catastrophic consequences that can arise when corporate boards do not treat cybersecurity as a top priority.
Additionally, the 2025 breach of multiple Australian pension funds further highlights how vulnerabilities in financial systems can have real-world consequences. Cyberattackers targeted major funds, leading to the theft of A$500,000 from compromised accounts. The breach jeopardised the financial assets of millions of members and tarnished the reputation of the funds involved.
A Rise in Device Adoption
The growing reliance on connected devices in critical infrastructure is projected to continue to climb globally. While these devices bring significant efficiencies and innovations, they also open the door to new cybersecurity risks. As the attack surface increases with each new device, the potential for vulnerabilities to be exploited grows, intensifying national security concerns.
Cybersecurity breaches that expose customer data or compromise critical infrastructure raise major environmental, social, and governance (ESG) issues. These breaches can severely damage company reputations, erode public trust, and destabilise society. Protecting infrastructure is now about more than just business continuity—it’s about fulfilling corporate social responsibility and ensuring long-term success.
Prioritising Cybersecurity
Given the scale of these risks, corporate boards must prioritise cybersecurity. Securing critical infrastructure is no longer optional—it’s a national security priority. Boards must ensure that robust cybersecurity measures are implemented, continuously tested, and updated, aligning with the evolving threat landscape.
As critical infrastructure becomes more interconnected, ensuring its security is essential to preserving the availability, integrity, and reliability of essential services. Collaboration among industry leaders, government entities, and cybersecurity experts is necessary to implement strategies to protect these systems from growing threats.
Securing critical infrastructure isn’t just about protecting business assets; it’s about safeguarding our communities and ensuring the continuity of essential services. Corporate boards must make cybersecurity a central part of their strategy to support long-term resilience and viability.
Key Points
- Cybersecurity attacks on critical infrastructure are a growing national security issue.
- Physical security incidents on the U.S. power grid rose by 71% from 2021 to 2022.
- 38% of global utility companies exhibited weak cybersecurity practices in 2022.
- Cybersecurity breaches can severely impact company reputations and public trust.
- Connected devices in critical infrastructure increase the risk of cybersecurity vulnerabilities.
- Corporate boards must prioritise cybersecurity as a matter of national security.
Why should I read this?
If you care about our communities and national security, this article is a must! With cybersecurity breaches on the rise and critical infrastructure at risk, you’ll want to know how corporate boards can protect not just their bottom line, but our essential services. We’ve done the heavy lifting, so you can stay informed on this pressing issue.