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Here are six reasons cyberattacks are increasing and five ways you can respond.
Why are cyberattacks getting worse?
- Money. Not long ago, data security was the biggest cyber risk. Companies that thought their data wasn’t too valuable assumed they weren’t in much danger. With today’s ransomware attacks, the stakes are much higher. According to financial management firm CliftonLarsonAllen, the average ransomware attack costs businesses with less than 500 employees $2.35 million. Even companies with a handful of employees can face losses in the hundreds of thousands of dollars.
- Remote workers. Pandemic-spawned remote working has created new vulnerabilities. Employees’ home Wi-Fi networks are likely to be less secure than workplace networks. As a result, workers logging in remotely might unknowingly open backdoors that hackers can exploit.
- Laws. All states require businesses to notify everyone whose personally identifiable information (PII) might have been compromised in a breach. Failure to do so subjects the company to stiff penalties. Unfortunately, the states define PII differently. A single incident treated as a relatively minor breach in one state could trigger arduous notification requirements or penalties in another. Increasingly, states also are looking at pre-breach “duty-of-care” responsibilities. California, for example, gives a private right of action to individuals whose personal information is “at risk of disclosure” because a business failed to maintain “reasonable security procedures.” In other words, the company can be sued for damages even before a breach occurs.
- Geopolitics. U.S. officials are convinced that the bad actors in the Colonial Pipeline and JBS Foods cases had at least the tacit cooperation of the Russian government. Many security officials expect Russian and Chinese intelligence agencies will go even further to harm U.S. interests — for example, by sharing malware with friendly hackers or compensating private firms to create mischief.
- The Internet of Things (IoT). The growing connectedness of systems and devices creates new pathways for hackers to exploit. Even legacy technology can create risks. Colonial Pipeline CEO Joseph Blount told the House Committee on Homeland Security that a virtual private network (VPN) the company thought was no longer in use provided the entry point for its breach.
- Hidden hacks. Bad actors can do a lot of damage before you even notice. A recent IBM study found it takes companies an average of 200 days to uncover a breach—and another 75 days to resolve the problem.
How can you fight back?
- Hire an outside professional. Data security is no longer an IT issue. It’s an “OT” (operational technology) issue. Internal IT experts rarely have the tools, expertise and training to keep up.
- Conduct an audit. To construct a solid cybersecurity plan, you must know your systems’ weaknesses. A cybersecurity expert can uncover your vulnerabilities and make informed recommendations.
- Make the necessary investments. Yes, fortifying your network infrastructure will cost a lot of time and money. Failing to do so could prove even more costly.
- Purchase cyber insurance. The Colonial Pipeline and JBS Foods losses were covered by cyber insurance. You need this protection too. Just beware: As losses mount, cyber insurance premiums are going up. PEI first purchased cyber insurance in 2018. Our premiums are increasing at about 20% a year. And before issuing policies, providers require applicants to demonstrate they have taken certain precautions to reduce the risk of attack.
- Set reasonable employee policies. Most data breaches can be traced to a company insider. Usually, it’s as innocent as an employee carelessly clicking a link in a malicious email or failing to protect their personal information. In the Colonial Pipeline attack, hackers found a remote employee’s username and password on another website and used that information to breach Colonial’s network. A good data security policy will:
- Give employees access only to the data they need to do their jobs;
- Standardize password requirements;
- Require employees to clear easily hacked, browser-saved credentials;
- Require two-factor authentication (a password plus a verification code) for access to key data; and
- Monitor and enforce compliance. (PEI’s network security provider offers a service that sends employees spoof emails with enticing but benign links; anyone who clicks on the link will receive more training.)
Ransomware and other cyberattacks aren’t going away. PEI will continue to provide updates and ideas to help you protect your business.
FUTURE FUELS NEWS
- Nevada Gov. Steve Sisolak signed legislation allowing the sale of E15 in the state. The State Board of Agriculture must adopt implementing regulations by July 2022.
- As of April, some 2,450 sites in 30 states sell E15, Growth Energy reported. That’s up from 2,341 stations in January.
- NACS, NATSO, SIGMA, EMA and other organizations opposed a bill that would allow EV charging at interstate rest areas. The groups’ June 8 letter said the bill would harm off-highway convenience stores, truck stops and other private fueling facilities. Despite the groups’ objections, the House Transportation and Infrastructure Committee moved the bill forward on June 10 by a 38-26 vote.
- Chevron will build, rebrand or co-locate at least 30 retail CNG fueling facilities by 2025. The first such site, a rebranding of the Allied Clean Fuels Plaza in Napa, California, opened June 10.
- Maine Sen. Susan Collins called for EV drivers to pay their “fair share” of road and bridge costs. In June 14 remarks on CBS’s Face the Nation, the senator added, “Right now, they are literally free riders because they’re not paying any gas tax.”
- Argonne National Laboratory estimates scheduled maintenance costs of 6.1 cents per mile for light-duty battery-electric vehicles (BEVs) and 10.1 cents per mile for gasoline-powered vehicles.
- Consumers Energy launched a $3 million program to help Michigan businesses transition to BEVs. Companies that install EV charging stations can receive rebates of up $50,000.
PEI UPDATES, ELECTIONS, APPOINTMENTS
Early bird extended. You can save up to $300 per person if you register by June 22 for the 2021 PEI Convention at the NACS Show. The event will be held Oct. 5-8 in Chicago, with the trade show open Oct. 6-8.
Board elections. Member companies in odd-numbered PEI districts will receive board of director election ballots on June 24. In contested districts, candidates also may send campaign letters before the election. PEI encourages all official representatives to vote.
Safety RP Committee appointed. PEI President Steve Dixon tapped Blair Shwedo of Guardian Fuel Technologies to chair the association’s new PEI Fall Protection and Working at Heights Committee. A complete list of all committee members is here. The committee will draft the association’s first safety-focused recommended practice: PEI/SRP001: Recommended Safety Practices for Fall Protection and Working at Heights at Fueling Facilities.
PEI Foundation scholarships. Winners of $1,000 Charles D. Kemp Scholarships for the 2021-2022 academic year are:
- David E. Bass III, son of David E. Bass II, Dover Fueling Solutions
- Zachary Baynham, son of Steve Baynham, Husky Corp.
- Lily Ford, daughter of Neely Ford, Lucas Ford Associates Inc.
- Caroline Kammerer, daughter of Ed Kammerer, OPW Fueling Containment Systems
- Parker Robinson, son of Cathy Robinson, Superior Petroleum Services Inc.
- Kaylie Shadburn, daughter of Ryan Shadburn, Western Pump Inc.
The Kemp Scholarships are named in honor and memory of Charles D. Kemp, longtime president of the White Tucker Co. and 1972 PEI president.
YE Conference sponsors. PEI thanks the following sponsors of the sold-out 2021 PEI Young Executives “Winter” Conference (June 26-29 at the Ocean Reef Club in Key Largo, Florida):
- Patriot Petroleum Solutions
- RDM Industrial Electronics
- Bravo Systems
- United Rentals Trench Safety
RP 1600 test. An online test is now available for the recently published PEI/RP1600: Recommended Practices for the Design, Construction, Installation, Operation and Maintenance of Liquefied Natural Gas/Liquefied Compressed Natural Gas Vehicle Fueling Facilities. Test takers receive a certificate of completion and details on their correct and incorrect answers. Learn more and purchase the test here.
DEATHS
Wendell Smith, 69, died May 30. Smith worked in the Florida petroleum and lubrication equipment industry for more than 35 years. For the past eight years, he was a territory manager for RJ Sales and Associates. Survivors include his mother; wife, Carolyn; sister Janice; stepson David Hough; and stepdaughter Melanea Hough-Patterson.
Scott “Forrest” Jones, 59, died June 12. A longtime veteran of the petroleum equipment industry, Jones had been with Guardian Fueling Technologies for the past five years, first as a service technician, and most recently as a GuardianConnect remote technician. Survivors include his wife Lorie; daughters, Kari Jones, Amanda Clemons and Noel Henderson; and 12 grandchildren.
MEMBER NEWS
Matrix Capital Markets Group Inc. announced the sale of Freeman Gas and Electric Co. Inc. to Superior Plus Energy Services Inc. Freeman provides propane gas and related installation and repair services to 70,000 residential and commercial customers in the Carolinas, Georgia, Tennessee and Virginia.
OMNTEC named Lynn Israel-Wood national sales manager/distribution. Israel-Wood has more than 20 years of experience in the petroleum equipment distribution industry. She will focus on developing and maintaining relationships with PEI members. Israel-Wood is a member of PEI’s Education & Convention Committee.
Patriot Petroleum Solutions hired Cameron Korneychuk as chief operating officer. In his new role, Korneychuk will lead the company’s sales and operations team. He has 29 years of industry experience, most recently as a regional sales manager for Wayne Fueling Systems.
Petroleum Card Services (PCS) appointed Peter Ransford business development director. Ransford, who joins PCS from Gilbarco Veeder-Root, will work to build the company’s referral partner relationships and portfolio of independent, unbranded gas station partners.
MEMBERSHIP APPLICATIONS
Costa Rica distributor. Industria Petrolera Impetsa S.A., 1 Kilómetro Norte y 200 Metos Oeste Del Liceo San Rafael, La Colonia, Guápiles, Costa Rica, applied for distributor division membership. Luis Miguel Monge Porras owns the company, which was established in 2014. Industria Petrolera Impetsa S.A. distributes, services and maintains petroleum equipment in Costa Rica. Sponsored for PEI membership by David Fiala, FMG-LLC/SFICO, Maitland, Florida. www.impetsa.com
Illinois software company. Site IQ LLC, 950 N. DuPage Ave., Lombard, IL 60148, applied for affiliate division membership. Kishore Gangwani is the founder and CEO of the firm, which was established in 2018. Site IQ LLC offers a technology platform for remote access and management of fuel dispensers. Sponsored for PEI membership by Joey Batchelor, Guardian Fueling Technologies, Jacksonville, Florida.
www.site-iq.com
Illinois consulting firm. W. Capra Consulting Group, 221 N. LaSalle, Suite 1325, Chicago, IL 60601, applied for affiliate division membership. Terry Mahoney is vice president of the company, which was established in 2000. W. Capra Consulting Group provides strategic, payment technology and project management consulting for the convenience and retail fuels industry. Sponsored for PEI membership by Dale Huizenga, B & K Equipment Co., Lansing, Illinois. www.wcapra.com
MEMBERSHIP TRANSFER REQUEST
Patriot Petroleum Solutions, 103 SE 12th St., Unit 181, Loveland, CO 80537, requested the transfer of its PEI membership from the service and construction division to the distributor division. Patriot Petroleum Solutions has been a PEI member since 2018. The company represents Wayne Fueling Systems, S. Bravo Systems Inc., LSI Industries, Husky Corp., Cim-Tek Filtration and Arning Cos.
ADMITTED TO PEI
- Kevin Pellegrini, Two Farms Inc., dba Royal Farms, Baltimore, Maryland (operations and engineering)
- Caldereria Terns S.L., Seva, Spain (affiliate)
- CTN, Torreón, Mexico (affiliate)
- EcoTank Canada, Orangeville, Ontario, Canada (affiliate)
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