Raphael John-Lall
The conflict between the US and Venezuela may not only erupt into a traditional war with soldiers and rifles, but there could be cyberwar which can impact T&T’s businesses and the national economy.
Business leaders and experts in cybersecurity expressed the view that cyberwarfare is just a new face in modern warfare, at the second part of the Caribbean Corporate Governance Institute’s (CCGI) webinar entitled “Impact of Rising US/Venezuelan tensions” on Thursday.
The theme was “Cyber Threats, Business Resilience and the US Venezuela Standoff.”
Co-founder of Orbtronics, a company based in St Lucia, Keeghan Patrick gave the example of the cyberattack on Venezuela’s state-owned oil company PDVSA last Monday.
Reuters reported Venezuela’s state-run oil company PDVSA had been subject to a cyberattack, adding its operations were unaffected, even though four sources said systems remained down and oil cargo deliveries were suspended.
“Just recently, four days ago, the Venezuelan Oil Security Administration Systems was paralysed from a cyber attack. Their data was frozen. The oil was still there but it severely impacted their operations. This is one of the world’s largest oil companies and they were forced to use pen and paper and they are in the middle of this stand off and conflict with the United States,” he said.
He encouraged the business community to develop strategies and contingency plans in the event of a cyberattack if the conflict intensifies.
“As business and private sector executives, we need to be thinking about what are our key points of attack, what is the risk exposure if those key points go down and how can we mitigate those. If a conflict breaks out between the United States and Venezuela, I think that we should be thinking about if our network goes down. If we don’t have internet access, what is the analogue minimum? What we are going to be doing to allow our businesses to continue/”
He asked businessowners what would they do if the systems for their payment plans or their company emails go down.
“In the worse case scenario, there are solutions to the problem but some of those solutions can only be done over a number of years and might only be able to implement for the next cyberwar that we might face. So, we have to think about near-term solutions and we should be thinking about how to keep business running, if I don’t have email, if I don’t have payment systems, if I don’t have other systems.”
He also spoke about cyber espionage and developing systems to protect businesses.
“In the scenario of a standoff, we have more of this data theft and Intellectual Property (IP) espionage type of thing happening within this type of tension and Cold War type of standoff. Our teams set up our backup systems and we must ensure if this type of information is stolen that we do have a backup where we can access it. Maybe it is on a different server and different location.”
He argued that even if Venezuela and the US were to come to a peaceful settlement tomorrow, businesses in T&T and the region must continue to develop contingency plans for similar scenarios in the future.
“Even if tomorrow, Venezuela and the US strike a deal of some sort, we still need to be operating in the mode of a possible standoff. I don’t think it will be a time to lower our guard. I think this is a time where actors, either nationalists or outside, use it as the ‘chaos of peace’ and this is another opportunity for them to attack. It could be United States’ actors, Venezuelans actors or Caribbean actors and we find ourselves in the middle.”
He encouraged regional companies to come together to see how they can share data and goods as well as improve the movement of people. Patrick noted that unfortunately the region is still far away from this reality.
“Any state-sponsored attacks on US infrastructure, the Caribbean and other places of the world become natural collateral damage. The solution to that is more long term and I don’t think we can solve it in the near term. But I do think it is a warning signal that our inter-sovereignty and how we can improve our data, critical infrastructure within the Caribbean where it is owned under our geopolitical environment.”
Finally, he said regional unity is important to face these types of threats.
“We need to build a Caribbean where we can keep the lights on regardless of what happens between Washington DC and Caracas or the Washington DC and some other part of the world... and to keep it as a peaceful Caribbean.”
Disinformation
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IT Consultant Kristian Bainey, who is based in Canada, advises business owners to prepare for the next wave of cyberwarfare.
“Cybersecurity only looks like an IT issue really when there is nothing going wrong. The moment the risk environment shifts, it becomes a cash flow issue, a trust issue, a survival issue. So, these geopolitical tensions with the US and Venezuela and other countries that have been through these cyberattacks have not been random. People have to know it’s not random. And it is actually expected because it has been done before in the past.”
He said when tensions rise, there is an increase of cybersecurity and cyberthreat activity.
“So, businesses get hit because they move money and deliver services and hold public trust often too much with less protection than what the Government standards give. So, the questions leaders should be asking is not how secure are we when the environments shift overnight. Do we know what to do in the first 48 hours which is critical to keep the businesses standing? As statistically proven, within the first 48 hours and even 24 hours, you must have continuity risk management plans at that point to start to manage the issues that come with most companies like backups, virals and antiviruses.”
He predicts that the next major threat will be AI-driven disinformation.
“There is AI generated audio, videos and messages. We have all seen and you’ve heard about it on the news on CNN, and on 60 Minutes. How convincingly it impersonates people, executives. They are trying to get information. This is breaking the decision making of the people who make the decisions. A fake CEO’s call triggers urgent wire transfers. Deep fake videos triggers panic faster than facts and accelerates national security risks. I think this is totally true.”
He hopes business owners and corporate leaders use this situation with Venezuela and the US to develop plans for similar scenarios in the future.
“After everything stabilises with Venezuela, you should use this event to justify resilience spending. What were the lessons learned? Do a stress test on your response before the next shock happens and treat cloud telecommunications and data providers like a critical infrastructure because it really is. At the end of the day, the next national, big attack would be disinformation because of Artificial Intelligence.”
