FBI: Smart Meter Hacks Likely to Spread
Summary: An FBI cyber intelligence bulletin obtained by KrebsOnSecurity reported that smart meter hacks at a Puerto Rico electric utility may have cost it up to $400 million annually, with a spot check finding roughly 10 percent of meters had been altered. The FBI said the fraud, the first known report of criminals compromising smart meters, used an optical converter connected to a laptop to reprogram meters for $300 to $1,000 on residential units and about $3,000 on commercial ones, or a strong magnet to stop usage measurement, typically cutting a customer's bill by 50 to 75 percent.
Key Takeaway: The FBI assesses with medium confidence that this fraud will spread as smart grid use grows, because intrusion is easy and the economic benefit runs to both the hacker and the electric customer - and since meters are read remotely and keep reporting usage, detection is very difficult.
Read the original at Krebs on Security ↗
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