PPB July 2021

How did Colonial Pipeline respond? The attack wasn’t on the pipeline itself or the company’s operational technology, but on the computers that oversee its business operations. To prevent the spread of malicious software and avoid hackers from potentially gaining access to susceptible parts of the pipeline, Colonial Pipeline shut down its pipeline as well as its information systems for six days. Colonial Pipeline also hired private security company FireEye, which previously worked on the hacking of Sony Pictures Entertainment in 2014 and events affecting the federal government, to conduct an investigation. Ironically, in the weeks leading up to the attack, Colonial Pipeline had been looking to hire a cybersecurity manager, according to CNN. Despite Colonial Pipeline stating that it did not intend to pay the ransom, on May 7, it reportedly paid nearly $5 million to DarkSide, according to Bloomberg , and on May 12, the pipeline resumed service as normal. What can businesses learn from this? The shutdown of Colonial Pipeline brings attention to the weaknesses in both companies’ and entire industries’ cybersecurity infrastructure. Ransomware attacks can send organizations, companies, and in some cases, entire countries, on a tailspin to attempt to control the damage, relay up-to-the-minute information to patients, residents and consumers, and develop necessary measures to prevent future attacks. Worst of all, it can happen to any company in any industry, of any size. In a report by Sophos, a UK-based IT security company, last year, half of businesses worldwide (51 percent) were subject to ransomware attacks. In the aftermath of the Colonial Pipeline cyberattack, the importance of preparing one’s business with effective cybersecurity measures and tools cannot be understated. For businesses looking to make their efforts more robust, Entrepreneur suggests five key actions: securing hardware, encrypting and backing up data, investing in cybersecurity infrastructure, creating a security-focused workplace culture, and using vigorous anti- malware and firewall software. MARKET SHARE A Recipe For Recovery In the event of natural disasters, consumers expect brands to get involved in the movement to prepare, help and rebuild. After a year of unexpected challenges, from the coronavirus pandemic to natural disasters, including hurricanes, wildfires and an unprecedented winter storm that spread from Texas to Northern Mexico in February, consumers are now expecting more civic involvement from the brands they do business with. A recent national survey of 550 consumers, conducted by advertising agency MullenLowe as part of its monthly research series, ML:Next, focused on how natural disasters and severe weather has sparked a preparedness trend among consumers, posing a unique opportunity for brands to step in and fill this need. The survey found that a majority of respondents (60 percent) felt the winter storm and related events in Texas in February caused them to reconsider how they prepare for emergencies. Nearly nine in 10 (89 percent) said they felt it would be helpful for major retailers, like Walmart, Target and Amazon, to sell emergency kits tailored to different disaster scenarios relevant to specific regions of the U.S. About half (49 percent) said they are less likely to have an emergency kit on-hand in the event of an emergency. According to Ready. Gov, a basic emergency kit may include items such as a flashlight, first-aid kit, batteries, whistle, local maps, plastic sheeting, duct tape, a manual can opener, garbage bags, moist towelettes and a wrench or pliers. On how brands can better offer their help, one-third of respondents (35 percent) said that paying for resources is most helpful, though if companies are unable to give financially, donating their time through employee volunteering (14 percent) and information-sharing (13 percent) are next in line. Nearly half of respondents (45 percent), however, cautioned against brands posting information that was non-related to severe weather and natural disasters, saying that it’s insincere. When asked how they consume their news, and how brands can most effectively reach them during a natural disaster or emergency, more than one-third (35 percent) said they’d turn to Breaking The Walls / Ovsianka / Valery Brozhinsky / Shutterstock.com | JULY 2021 | 73 THINK