Former FBI Director James Comey kicked off Compliance Week’s 16th annual National Conference on Tuesday by speaking candidly about a variety of risk and compliance matters, including the importance of a strong ethical culture in the coming post-pandemic “boom times” and why federal intervention might be necessary in response to cyber-attacks against systemically important institutions that are either unable or unwilling to do what it takes to protect themselves.
“I find it infuriating in 2021 that a systemically important enterprise can be taken offline by a ransomware attack, given [ransomware] has been with us for more than a decade,” Comey said, referencing the May 7 cyber-attack against Colonial Pipeline that temporarily halted the company’s operations.
