industry insights

Darkside ransomware attack on Colonial Pipeline cripples energy infrastructure

In the latest incident that illustrates the overlap of the traditional economy and infrastructure with the digital realities of modern business, one of the largest pipelines in the U.S. was forced to shut down this past weekend after being hit by a ransomware group.

Managed by Colonial Pipeline Co., the 5,500-mile pipeline runs across 14 states between Houston, TX and New York Harbor, and provides around 45% of all fuel for the U.S. East Coast.

World Economic Forum cybersecurity guide for boards of directors

Given our role as a global leader in cyber protection, the Acronis team is often tapped for our expertise and insights. Such contributions are why Acronis is a member of the World Economic Forum (WEF) Centre for Cybersecurity – and why we were part of a working group that contributed to a new report released by the WEF that warns that cybersecurity failure is a “clear and present danger” and critical global threat.

The WEF’s new Principles for Board Governance of Cyber Risk Report notes that while cybersecurity failures are a major threat, the responses from board directors have been fragmented, risks not fully understood, and collaboration between industries limited.

Boards of directors need to play a more active role in protecting their organization from cyber risks. The new WEF report that we contributed to provides a solution to this fragmentation.