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Cyberattacks are surging – here's how companies should respond

Cyberattacks are surging – here's how companies should respond
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'Extreme Reaction' By Colonial Pipeline Baffles Energy Experts

UpdatedThu, May 13, 2021 at 11:37 am ET
Replies(6)
Colonial Pipeline, the major East Coast pipeline behind the gasoline shortages in the Southeast and Mid-Atlantic, is coming under scrutiny for its information technology and cybersecurity practices. (Michael M. Santiago/Getty Images)
VIRGINIA The major East Coast pipeline behind the gasoline shortages in the Southeast and mid-Atlantic is coming under scrutiny for its information technology and cybersecurity practices.
Colonial Pipeline revealed Friday that it had been the target of a cyberattack on its information technology system. The company said the hackers stole nearly 100 gigabytes of data and encrypted at least a portion of the company s information technology network. ....

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Cyberattacks are surging – here's how companies should respond

RALEIGH – The cyberassault on the Colonial Pipeline is getting the most media attention right now but the actual number of ransomware assaults is soaring against companies in general – especially utilities.
Utility companies are bein hit on average 260 times a week, according to data from Check Point Research.
That’s an increase of 50% in just the past two weeks.
And the situation isn’t getting better, according to International Association of Information Technology Asset Managers which focuses on ways to manage technology.
“This country is way behind where it needs to be in ensuring that every single device and piece of software associated with these infrastructure projects is accounted for, secure, and up to date,’ said Barbara Rembiesa, CEO of the IT association. “Old infrastructure is already under attack today because of a lack of rigorous IT Asset Management.” ....

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Colonial Pipeline Ransomware Attack Rattles Power Industry, Renews Vulnerability Concerns

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Colonial Pipeline Ransomware Attack Rattles Power Industry, Renews Vulnerability Concerns
A ransomware incident on May 7 that prompted Colonial Pipeline Co., owner of the nation’s largest refined products pipeline, to proactively shut it down underscores the punch cyberthreats can pose to organizations, “regardless of size or sector,” the U.S. Cybersecurity and Infrastructure Security Agency (CISA) has warned.
Five days after Colonial Pipeline first learned it was the victim of a cyberattack, the Alpharetta, Georgia-headquartered company continued to restore operations on the 5,500-mile pipeline, which transports more about 45% of all fuel consumed on the East Coast from refineries primarily in the Gulf Coast. The White House on Monday said the Biden admi ....

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