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Home In Brief

NanoLock tapped for new effort in combating electricity theft

by  ILH Staff
Published on  11-28-2022 14:14
Last modified: 11-28-2022 14:14
Iran says it dismantled 'one of the most complicated CIA networks'Reuters/Kacper Pempel

Cyber theft of electricity has been of rising concern | Illustration: Reuters/Kacper Pempel

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The company ectacom, a Germans distributor for IT and security solutions, is expanding its OT (Operational Technology) security portfolio for the industrial and manufacturing sectors with NanoLock's zero trust, device-level protection, the company has recently announced. "NanoLock is protecting the operational integrity of manufacturing, energy, water and manufacturing companies with its device-level cyber defense that uniquely prevents insider and supply chain cyber events and even human errors in addition to outsider cyber-attacks," a statement read.

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"With cybersecurity threats to OT environment on the rise, we are excited to  collaborate with NanoLock, one of the leading providers for zero trust devicelevel solutions. NanoLock will help us to complete ectacom OT SOC Strategy," Managing Partner at ectacom Tomé Spasov said. "This partnership will definitely expand ectacom's OT security solutions and will
assist in protecting operational integrity of OT environments and critical edge  devices."

"We see an urgent need for zero trust, device-level protection in critical infrastructure sectors," said David Stroud, NanoLock's GM of Europe and APAC. "We are thrilled to cooperate with ectacom to protect industrial and manufacturing companies in Germany and throughout Europe.  Electricity theft and other so-called "non-technical losses" total a staggering $96 billion per year globally. This problem is crippling utilities around the world, driving up prices for paying customers and often necessitating costly government subsidies.

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