Tech

Biden warns of 'evolving intelligence' that Russia is exploring potential cyberattacks and urges companies to beef up defenses 'immediately'

Russian President Vladimir Putin
Russian President Vladimir Putin gestures as he speaks during a video emergency meeting of the Council of the CSTO focused on the situation in Kazakhstan on January 10, 2022. Alexey Nikolsky/Getty Images
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The US has "evolving intelligence" that the Russian government is "exploring options for potential cyberattacks," President Joe Biden said in a statement on Monday.

"It's part of Russia's playbook," Biden said.

The President also called on private sector companies to "harden your cyber defenses immediately" with measures such as multi-factor authentication, up-to-date security software and tools, secure data backups, and routine training drills.

Most of the country's critical infrastructure is controlled by private sectors, which limits the government's ability to secure its digital borders, Biden said.

Cyber warfare between the US and Russia has been relatively quiet in spite of Russia's escalating invasion of Ukraine and subsequent economic sanctions by the US, EU, and UK.

But that's not to say that adversaries aren't trying. Research from Microsoft found that 58% of the nation-state cyberattacks that it observed over the course of a year originated from Russia.

A successful attack could have major implications for US national security, according to a memo from Goldman Sachs, specifically if the IT infrastructure is targeted in the critical sectors of energy, financial services, or transportation.

For example, Lloyd's insurance estimated that a shutdown of the power grid in the Northeast US could cause economic damages of up to $1 trillion.

Thirteen additional sectors have also been designated by the US as being critical to security and public health.

A Russian cyberattack on Ukraine in 2017 inflicted more than $10 billion in damage, according to a US assessment — about 10% of the Ukrainian economy at the time.

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Dominick Reuter
Dominick Reuter
Dominick Reuter is a senior retail reporter for Business Insider, primarily covering Walmart, Target, and Costco. His stories tend to focus on issues and trends that affect employees and customers.Prior to joining BI in 2019, Dominick worked for more than a decade as an independent photojournalist covering a wide range of stories for global wire services and newspapers, including Reuters, the Wall Street Journal, and Agence France-Presse.Dominick studied photojournalism at Boston University and later earned a Masters in business and economics journalism from Columbia University.If you're an employee or customer with a story to share, please contact me via email or text/call/Signal at 646-768-4750.