A devastating cyberattack in 2020 shut down Bouygues Construction. Hackers breached the construction company’s servers and allegedly stole 200 gigabytes of data. They demanded a €10 million ransom in exchange for the stolen data.
While cyberattacks of that scale don’t happen to construction companies on a daily basis, all industries are susceptible to a data breach. In 2022, the average cost of data breaches rose to $4.35 million. As construction companies incorporate technology into their business structure, the risks of cyberattacks increase, and as such, so should cybersecurity best practices.
We’ll discuss cybersecurity risks that construction companies face, and some best security practices that can ensure your company’s cybersecurity stays secure.
What Cybersecurity Risks Do Construction Companies Face?
When it comes to cybersecurity in construction, these companies face a unique set of risks. The nature of the business—with its reliance on technology, mobile workers, and large amounts of data—makes construction companies a target for cybercriminals.
Construction companies may still be operating using outdated technology. This obsolete software can be dangerous and contrary to cybersecurity best practices, as it doesn’t have the same security features as newer applications and can make companies in the construction industry easy targets for hackers.
Some of the risks threatening cybersecurity in construction include:
- Malware: Malware steals data and disables systems in construction companies.
- Data breaches: Construction companies deal with large amounts of data, including personal, financial, and project data. This data is often stored on unprotected servers or in the cloud, making it vulnerable to attacks.
- Ransomware: Hackers may use ransomware to encrypt data and demand a ransom from the construction company in order to decrypt it.
- Phishing: Phishing attacks are a common way for cybercriminals to gain access to construction company systems. These attacks typically involve the use of fake emails or websites to trick employees into entering their login credentials.
- Insider Threats: Construction companies have a large number of employees with access to sensitive data. This data can be leaked accidentally or stolen deliberately by insiders.
5 Cybersecurity Best Practices for Construction Companies
Knowing how to protect your data and confidential information is essential for construction companies who depend heavily on technology for their systems and processes. Here are five cybersecurity best practices that construction companies can adopt to improve their protective measures.
1. Implementing Strong Security Policies
Construction companies should put in place strong security policies to protect their data. These policies should cover topics such as password management, data encryption, and access control.
2. Training Employees about Cybersecurity Awareness
Employees should be trained on how to identify and report cybersecurity risks. They should also be aware of the company’s security policies and procedures.
3. Investing in Cybersecurity Solutions
Cybersecurity solutions help construction companies avoid cyberattacks and stay protected. Great cybersecurity solutions to invest in include the following:
- Firewalls
- 24/7 Monitoring
- Anti-Malware Software
- Multi-Factor Authentication
- Data Backup and Recovery
- Intrusion Detection Systems
4. Conducting Regular Security Audits
Security audits help construction companies identify weaknesses in their security posture. These audits should be conducted regularly to ensure that your company’s security protocols meet the necessary standards.
5. Working with Trusted Cybersecurity Partners
Construction companies should work with trusted partners who can provide expert guidance on cybersecurity best practices. These partners can help construction companies implement the latest security solutions and stay up-to-date on defending against the latest cyber threats.
Partner with Weber TC
Weber TC is a cybersecurity partner that construction companies can trust. We have extensive experience in cybersecurity and understand the unique cybersecurity risks that construction companies face.
Our team of experts can help you implement cybersecurity best practices and protect your data from cyberattacks. Contact us today to learn more about our services.
