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Expert Comment: Ransomware attack causes one of UK’s largest logistics firms to close

September 2023 by Joseph Carson, Advisory CISO and Chief Security Scientist chez Delinea

Reaching out as you may have seen the news that one of the UK’s largest logistics firms, KNP Logistics Group has entered administration following major disruption to its business, caused by a cyber-extortion attack that occurred in June. Joseph Carson from Delinea has commented on the long-term effects of a ransomware attack and highlights the importance of having robust security measures to prevent or quickly detect an attack.

The news of one of the UK’s largest privately-owned logistics companies, KNP Logistics Group, entering administration following the devastating impact of a ransomware incident, showcases that cyberattacks in the digital world have a real-world impact, especially when the business is unable to recover.

The impact of ransomware is significant, as it doesn’t just put data and systems at risk but ultimately jeopardizes the business and people’s jobs.

Ransomware is not solely an IT or security incident; it is a business incident, and it requires a business incident response. What happened to KNP Logistics serves as a reminder that all organisations can be a target for ransomware gangs and that no company is too big or too small, if you have technology and data that the business relies on, you are a potential target.

With the shift from cybersecurity to cyber resiliency, it is essential to realise that any business, at any time, can become a victim of ransomware. This highlights how critical it is to quickly detect malicious access and activity, have a strong incident response plan, and a ransomware resilient backup and recovery strategy.

Our thoughts go out to those directly impacted by this devastating news. This incident emphasises the importance of cybersecurity and resiliency and the hope is that other businesses can learn from it.

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