Colonial Pipeline facing $1,000,000 fine for poor recovery plans

Colonial Pipeline

If you were in the US this time last year, you won’t have forgotten, and you may even have been affected by, the ransomware attack on fuel-pumping company Colonial Pipeline.

The organization was hit by ransomware injected into its network by so-called affiliates of a cybercrime crew known as DarkSide.

DarkSide is an example of what’s known as RaaS, short for ransomware-as-a-service, where a small core team of criminals create the malware and handle any extortion payments from victims, but don’t perform the actual network attacks where the malware gets unleashed.

Teams of “affiliates” (field technicians, you might say), sign up to carry out the attacks, usually in return for the lion’s share of any blackmail money extracted from victims.

The core criminals lurk less visibly in the background, running what is effectively a franchise operation in which they typically pocket 30% (or so they say) of every payment, almost as though they looked to legitimate online services such as Apple’s iTunes or Google Play for a percentage that the market was familiar with.

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Free Cybersecurity Risk Assessment!

Cybersecurity is on everyone’s radar these days. The Panacea team will review your business’s level of Cybersecurity Risk for free! Request your assessment today.