Dr. Chris Pierson Comments: Colonial Pipeline CEO Confirms $4.4 Million Ransom Payment

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May 19, 2021 – Dr. Chris Pierson was quoted in Bank Info Security’s article, “Colonial Pipeline CEO Confirms $4.4 Million Ransom Payment.”

The article talks about Colonial Pipeline Co.’s CEO, Joseph Blount’s decision to authorize the payment of a $4.4 million ransom just hours after the company was hit by a DarkSide ransomware attack.

Pierson notes that Colonial Pipeline is a large company with facilities spanning more than a dozen states, which complicates the decision-making process.

“Reaching an answer is made a lot easier if the company does not have a large number of impacted systems, has backups and a way to rapidly refresh their IT infrastructure, and has time – sometimes the most important factor,” Pierson says. “A strong negative in any one of these areas can limit the options that a CEO has.”

Read the full article here: https://www.bankinfosecurity.com/colonial-pipeline-ceo-confirms-44-million-ransom-payment-a-16696

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