Industry Roundup: June 17, 2021
The Rise of Cyber CartelsGangs of cyber criminals are organizing themselves along the lines of drug cartels and changing their strategy of attack in order to keep ahead of authorities' efforts to stamp them out. These cartels are formed to execute ransomware campaigns collaboratively, expanding hackers' playbooks to include so-called “double extortion," data exfiltration and data modification.Lawmakers Criticize Colonial Pipeline for Cyber WeaknessUS lawmakers criticized Colonial Pipeline Co.'s cybersecurity practices as the company's chief executive officer faced his second day of questioning on Capitol Hill. “If your pipeline provides fuel to 45% of the East Coast, why are you only hardening systems after an attack?…