In smart grid systems, distribution networks and smart meters are more exposed to the public and therefore are at higher risk. Smart meters are the critical elements of smart grid system. Smart meters provide information such as energy usage, utilization pattern, user details to control centers at real time. Smart meters are more exposed to cyber-attacks due to heavy usage of communication devices and communication infrastructure in smart grid system. Researchers across the globe are working on the cyber security of smart meters and have proposed various models and algorithms for network observability, attack detection and prevention. This paper provides a review and analysis of the simulation results of recently proposed consumer attack model and grid sensor placement algorithm for detecting the attacks.