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FedEx Cyberattack: A Costly Cybersecurity Lesson

Posted: July 21, 2017 to Cybersecurity.

Tags: Ransomware, Malware, Data Breach

FedEx has been officially schooled, directly from The School of Hard Knocks, on the importance of cybersecurity. Hopefully they are learning their lesson. Just a few months ago, the delivery giant fell victim to the WannaCry ransomware virus that was being passed around, which was bad enough.  But more recently, they were infected with the wiper bug, NotPetya, and it appears that some of their data may have been permanently lost. While it does not appear that NotPetya was able to infect any other FedEx businesses, or that any data has been stolen, the UPS competitor explained in a statement that “we do not have cyber or other insurance in place that covers this attack. Although we cannot currently quantify the amounts, we have experienced loss of revenue due to decreased volumes at TNT and incremental costs associated with the implementation of contingency plans and the remediation of affected systems.” FedEx acknowledges that ineffectiveness on the part of their antivirus software is most likely the reason they were left vulnerable to the attacks. They have also stated that they have increased their cybersecurity measures.   Let’s hope for their sake that they have.

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About the Author

Craig Petronella, CEO and Founder of Petronella Technology Group
CEO, Founder & AI Architect, Petronella Technology Group

Craig Petronella founded Petronella Technology Group in 2002 and has spent more than 30 years working at the intersection of cybersecurity, AI, compliance, and digital forensics. He holds the CMMC Registered Practitioner credential (RP-1372) issued by the Cyber AB, is an NC Licensed Digital Forensics Examiner (License #604180-DFE), and completed MIT Professional Education programs in AI, Blockchain, and Cybersecurity. Craig also holds CompTIA Security+, CCNA, and Hyperledger certifications.

He is an Amazon #1 Best-Selling Author of 15+ books on cybersecurity and compliance, host of the Encrypted Ambition podcast (95+ episodes on Apple Podcasts, Spotify, and Amazon), and a cybersecurity keynote speaker with 200+ engagements at conferences, law firms, and corporate boardrooms. Craig serves as Contributing Editor for Cybersecurity at NC Triangle Attorney at Law Magazine and is a guest lecturer at NCCU School of Law. He has served as a digital forensics expert witness in federal and state court cases involving cybercrime, cryptocurrency fraud, SIM-swap attacks, and data breaches.

Under his leadership, Petronella Technology Group has served 2,500+ clients, maintained a zero-breach record among compliant clients, earned a BBB A+ rating every year since 2003, and been featured as a cybersecurity authority on CBS, ABC, NBC, FOX, and WRAL. The company leverages SOC 2 Type II certified platforms and specializes in AI implementation, managed cybersecurity, CMMC/HIPAA/SOC 2 compliance, and digital forensics for businesses across the United States.

CMMC-RP NC Licensed DFE MIT Certified CompTIA Security+ Expert Witness 15+ Books
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