This fireside chat recap is from Day 1 of FreightWaves LIVE @HOME.
FIRESIDE CHAT TOPIC: The importance of cybersecurity in the age of ransomware attacks
DETAILS: The recent cyberattack on Colonial Pipeline laid bare the risk posed by ransomware attacks. GlobalTranz Chief Technology Officer Russ Felker talks to FreightWaves reporter Nate Tabak about how transportation and logistics companies can beef up their cybersecurity.
SPEAKER: Felker is the chief technology officer at GlobalTranz, a leading third-party logistics provider.
BIO: Felker oversees technology operations, including cybersecurity, at GlobalTranz. He has over 25 years of experience in technology and product development. Before joining GlobalTranz in 2019, he advised private equity firms on technology-related mergers and acquisitions.
KEY QUOTES FROM FELKER:
“Whether you want to call it ‘Groundhog Day’ or ‘Edge of Tomorrow,’ We seem to be seeing [ransomware attacks] happen again and again and again.”
‘They’re not necessarily going through and finding the hardest way in. They’re looking across a slew of options and looking for the best or easiest way. And unfortunately, many times they find that.”
“You don’t start by putting in these huge intrusion detection systems and intrusion prevention systems and get a managed service provider to come in and monitor your network 24/7. When you’re small … you’ve got to start at the simplest points.”
“The level of complexity of many company networks — and the systems that ride on those networks, and the interaction between those systems and the ways in which you need to ensure communication between different systems to the outside world — opens us up to not being able to track every single instance of a potential threat point.”
- Trailer maker Utility targeted in ransomware attack
- Ransomware gang blamed for Colonial Pipeline attack expresses regret
- When ransomware attacks hit, companies choose between pay and pain