Lessons Learned from Ransomware Colonial Pipeline Incident

Why This Privacy Law is Important:

The average ransomware recovery costs for businesses have more than doubled in the past year, from $761,106 in 2020 to $1.85 million in 2021. It is vital that all organizations have an incident and breach management strategy in place to avoid this cost and reputational harm

Overview:

Colonial Pipeline was attacked with a ransomware variant from the Ransomware as a Service (RaaS) group DarkSide, causing Colonial Pipeline to take certain systems offline, and halting pipeline operations which transport approximately 100 million gallons of fuel daily to 14 states from Texas to New York.

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