Firms should seek to learn from past cyberattacks and take active measures to prevent and detect future threats. Given the importance of cyber-risk governance for credit ratings, the benefits of robust cybersecurity will likely extend beyond the digital realm.
LONDON – The recent ransomware attack that shut down the Colonial Pipeline in the United States exemplifies the growing sophistication of cyberattacks over the past 12 months. Ever since the Colonial attack, there have been attacks involving the insurance sector in Asia, a European truck lease provider, a French distressed debt purchaser, and a global food company. All involved ransomware demands and highlighted attackers’ ability to choose targets without regard for geography or sector.
LONDON – The recent ransomware attack that shut down the Colonial Pipeline in the United States exemplifies the growing sophistication of cyberattacks over the past 12 months. Ever since the Colonial attack, there have been attacks involving the insurance sector in Asia, a European truck lease provider, a French distressed debt purchaser, and a global food company. All involved ransomware demands and highlighted attackers’ ability to choose targets without regard for geography or sector.