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Cybersecurity Impact on Small Businesses in Wake of Colonial Pipeline

In the wake of the Colonial Pipeline ransomware attack, cyber attacks such as ransomware and phishing continue to be a major threat for all businesses, large or small. Even with precautions in place, it is not a matter of "if" but "when" a business will experience an attack. In the case of Colonial Pipeline, the hackers not only demanded and received millions from Colonial Pipeline in May 2021, but the resulting ransomware attack forced the company into a fuel distribution shutdown, making headlines across the country and causing gas shortages on the east coast. The attack also compromised thousands of individuals' personal information. 

Unfortunately, these types of attacks are becoming more commonplace and this incident is just one of the few that the public will hear of.

In a recent episode of Expert Connexions, business and cybersecurity attorney Taylor Gast joined moderator Julie Holton along with other panelists to discuss the circumstances of the pipeline ransomware crisis. They covered common mistakes businesses make that can eventually land them in hot water.

The legal and marketing panelists also discussed the strategies that businesses should have in place to help mitigate the damage of an impending attack, including having an emergency response plan, having data backup systems and keeping your team on alert. 

Think your small business is immune? Think again after listening to this. Click the thumbnail below to view the full video session.

Cybersecurity video buttonThis video is for general information purposes only and IS NOT LEGAL ADVICE. If you seek legal counsel or need help in determining how this information applies to a specific situation, contact a Foster Swift business & tax law attorney before taking any action.

Categories: Cybersecurity, Did you Know?, News, Technology

Photo of Taylor A. Gast
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Taylor helps businesses and business owners solve and prevent problems as a member of Foster Swift's Business and Tax practice group. He handles business formation and transactions, tax controversies, employee benefits, and technology related issues.

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