Smart meters collect data every 15 minutes instead of traditional monthly meter readings. Such data can provide a great deal of information about the user’s life style and daily habits. A typical smart meter is a simple processor with a little bit of hard disk space. It does not have the capacity to support antivirus software. The security concerns include denial of service attacks, selling personal data to third parties, hacking attacks and so on.
“Although smart meter security has technically gotten better, it is still of concern. In April, for instance, the FBI warned that hacking smart meters and the fraudulent power bills that result may cost utility companies about $400 million per year.”
Reference: Mulholland, Jessica, Smart Meter Security, Governing, August 21, 2012
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