A swath of major American businesses — from major banks to utility companies — is preparing for possible cyberattacks against their computer networks as Russia has threatened “consequences” for nations that interfere with its invasion of Ukraine.
Their concerns, echoed in C-suites and around Washington, follow recent warnings from the Biden administration that U.S. firms should harden their defenses against potential cyberattacks that could disrupt the nation’s critical infrastructure.
American officials say there are no current threats against the U.S. But they have nonetheless urged organizations to plan for worst-case scenarios and more aggressively monitor their computer networks for possible intrusions.
“Right now, everybody needs to be at a heightened alert in the event this continues to escalate, and Russia tries to sway political opinion by causing damage in the United States and its Western allies,” said David Kennedy, the chief executive officer of security firm TrustedSec. He said companies should be going through their computer infrastructure “with a fine-tooth comb” to ensure previous intrusions can’t be used to cause future, more damaging, attacks.
Major U.S. banks, for instance, fear aggressive cyberattacks if Washington imposes deeper financial sanctions on Russia, said two banking executives who spoke on condition of anonymity to discuss private conversations. CEOs of major financial firms and their cybersecurity experts recently met with Treasury officials as Russian threats of war intensified, according to the executives.
Russian President Vladimir Putin had warned that any foreign attempts to interfere with Russia’s actions would lead to “consequences you have never experienced,” according to remarks of his speech provided by the Kremlin. U.S. officials have tied recent cyberattacks on government websites and banks in Ukraine to the Russian government.
Jen Easterly, director of the Cybersecurity and Infrastructure Security Agency, has been urging U.S. businesses and organizations to be prepared for cyberattacks, despite the lack of specific threats. “Russia may consider taking retaliatory action in response to sanctions that may impact our critical infrastructure,” she tweeted on Tuesday. Those warnings were echoed by Energy Secretary Jennifer Granholm in a letter Wednesday to energy executives, urging them to prepare to “the highest possible level for potential Russia-linked cyber and disinformation activity or cybercriminal activity from actors seeking to exploit the ongoing geopolitical situation.”
Speaking on a panel for the Aspen Institute, Easterly said, “We all recognize that early warnings of a cyberattack affecting U.S. organizations are frankly going to be identified by a private company first rather than the government.”
Electric utilities are “closely monitoring the situation and are coordinating across the industry and with our government partners,” said Scott Aaronson, a security executive at the Edison Electric Institute, a trade group. The Solar Energy Industries Association, meanwhile, encouraged its members in a message to “discuss your organization’s cyber response procedures with your staff and have a clear understanding of everyone’s roles and responsibilities.”
