From Canada to Brazil to Italy, the business case for some
large-scale smart meter deployments have centered on cutting
down on theft.
And then there’s Puerto Rico, where a recent report from
Krebs on Security found that a major utility may have lost
up to $400 million in revenue after organized
smart meter electricity theft, which was assisted by
utility insiders.
The incident shined light on the vulnerabilities of some
meters, but also showed that the largest
security threat of meters at the moment is not
infrastructure damage or privacy breaches, but fraud --
which is easier to do on a large scale as millions of
electricity meters are going digital.
“There are many systems that have similar auditing roles and
have similarly economically motivated attacks as smart
meters,” said with Ben Jun, VP of Technology at Cryptography
Research , a security research and development and licensing
firm.
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