Cybersecurity for Connected Vehicles Is the Next Big Thing
Vancouver, BC
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July 20, 2023 09:00 AM Eastern Daylight Time
The next major cyber attack may not be directed at your computer or even your bank card. It might be on your car.
For over a decade, cybersecurity experts have warned about vulnerabilities in connected cars, which connect to an app, the internet, or an electric charging station. Owners of these automobiles risk having their personal data stolen, having their car hijacked while driving, or even having the power grid into which the vehicle is plugged shut off.
EVs have gotten the most attention since they contain more digital components than their gasoline-powered equivalents. However, many modern automobiles have cybersecurity flaws, according to Stephen Meagher, Deloitte's director of new product offerings.
Some of the cybersecurity threats involved with autos and charging stations are the same as those associated with ATMs or your personal computer. Someone hacking an EV charging station, for example, could steal your personal information, including payment information, location, or demographic information.
Some concerns, though, are particular to vehicles and much more concerning.
Hackers, for example, could get access to and control of the car. A 2021 speculative analysis demonstrated how a cyberattacker may short circuit an engine or even pull a car off the road. In 2023, a French hacker team used bluetooth to take control of a Tesla in under two minutes as part of a hacking competition.
Then there are the more general concerns, such as gaining access to or shutting down a charging station network or even the central power system.
Jim Alfred, general manager of applied cryptography group BlackBerry Certicom, agrees that automakers are aware of the risks and are taking precautions. Alfred and his team at BlackBerry Certicom develop computer protocols that enable safeguard communication channels in connected automobiles, similar to the ones you might find in your internet browser that notify you if a website is secure.
Securing vehicles remains a difficult task. There are numerous companies participating in creating, producing, and ultimately deploying connected vehicles and EVs, ranging from equipment and software makers to telecommunications corporations, power companies, and local or national governments.
According to Damu Prabhu, a partner in the cyber risk practice at Deloitte, a big part of the solution is to coordinate the cybersecurity effort.
Essentially, vehicle cybersecurity is an arms race in which the winner will be determined by who has the most to lose and who is prepared to invest.
A Leader in Advanced Continuous Authentication Technology
Plurilock Security Inc. (TSXV:PLUR) (OTC:PLCKF) has created cybersecurity solutions that are used by over 600 customers, including NASA, the US Department of Defense, US Special Operations Command, the US Army, Navy, Marines, and Airforce, and has unique AI capabilities capable of identifying malicious behavior in seconds.
Plurilock uses behavioral analytics and artificial intelligence (AI) to provide cutting-edge least privilege cybersecurity solutions to its clients. The company's AI system can identify and detect dangerous behaviors in seconds by monitoring individual behavior patterns, providing real-time security against cyber attacks.
Plurilock AI is available in three configurations from the manufacturer. Plurilock AI Cloud provides a comprehensive suite of tools to enable least privilege access management across a company's cloud universe, as well as cloud-based data loss prevention (DLP) capabilities; Plurilock AI Cloud DLP combines the AI Cloud with an endpoint agent to ensure least privilege strategies are maintained to protect sensitive data across employee workstations; and Plurilock AI Complete, which connects these capabilities to machine learning (ML) and behavioral biomimetic technologies.
Plurilock Security has continued to sign new contracts and renew existing ones, resulting in a year-over-year rise in Q1 revenue of 125%, from C$7 million to $15.8 million.
Plurilock's core AI-driven technology solution received 16 sale orders and contract renewals in Q1, including cross-sell buy orders from two US financial institutions.
Moving forward, the company intends to increase cross-selling, streamline operations, adjust pricing to offer competitive rates while increasing gross margins, and advance its M&A strategy by completing accretive acquisitions of businesses in key markets with strong technology assets and extensive customer networks.
For more information about Plurilock Security Inc. (TSXV:PLUR) (OTC:PLCKF), click this link or visit their website at plurilock.com.
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