Recent high-profile cyber-attacks on the construction industry have highlighted the vulnerability of businesses of all sizes to cyber threats. As the industry adopts digital ways of working, it’s crucial to understand these threats and protect your business.
Construction businesses are seen as easy targets by cyber criminals due to their high cash-flows and the extensive use of sub-contractors, making them susceptible to spear phishing. Even if they don’t store financial information, construction businesses still have valuable data that can be misused for unfair advantages or identity theft. A data breach or ransomware attack can cause business disruption, reputational damage, and potential investigations from the Information Commissioner’s Office.
The building industry faces numerous digital threats, from phishing to extortion:
Email Phishing
A staggering 83% of firms in the construction field have encountered phishing attempts. These often masquerade as urgent messages from high-level executives, pressuring recipients to act hastily by sending money or key financial data.
Information Theft
Construction companies harbour a wealth of sensitive data, from financial records to subcontractor details, making them prime targets for cybercriminals. Data breaches can be particularly challenging to resolve. The RMD Kwikform case from December 2020 came as a stark warning to the construction industry that they weren’t immune from high profile cybersecurity attacks.
High Fraud Prevalence
In 2022, construction businesses were among the most frequent victims of fraud, with about 5% affected. Shockingly, 79% of the industry still lacks adequate cybersecurity measures, and 26% fail to keep their devices updated.
Covert Data Collection
Spyware can silently infiltrate systems, siphoning off sensitive information without detection. It often arrives disguised in seemingly harmless emails or on websites that seem legitimate.
Service Disruption
Approximately 21% of construction companies have faced sophisticated attacks like Denial of Service, which can render devices unusable or crash networks and websites.
Protecting Construction Firms from Cyber Threats
Construction firms need to be aware of the risks and prepare their technology and people when it comes to cybersecurity. You can invest as much money as you want in advanced technology, but one click on an email could evade all these technologies and put your firm at risk.
Investing in reputable construction software can help mitigate the impact of a cybersecurity breach, but that’s just one piece of the puzzle. To truly safeguard your construction company, every employee must take proactive steps to bolster your organisation’s overall cybersecurity posture.
To safeguard construction businesses, executives and leaders should:
1. Implement Cybersecurity Measures Throughout All Project Stages
During the design stage, architects and engineers should be aware of who they are sharing work with and utilise access management principles to ensure that only those who need to see work, do. Throughout construction, contractors must safeguard digital assets, such as blueprints and project management software, using tools like multi-factor authentication to help reduce hackers being able to access. As the project nears completion, handover documents should be securely transferred to the building owners and those who will be maintaining it to avoid sensitive documents being in the wrong hands.
2. Develop Contingency Plans
Developing comprehensive contingency plans is crucial for minimising the impact of cyber incidents. These plans should outline step-by-step procedures for detecting, containing, and recovering from various types of cyber-attacks. This should be shared with all employees and any third parties you work with, as well as your IT provider.
3. Regularly Train and Inform All Staff
As a C-Suite leader, you should develop clear guidelines and policies for data handling, device usage, and internet safety. Regular training sessions should be conducted to educate all personnel about potential cyber threats and how to recognise and respond to them. These best practices should extend to contractors and subcontractors, ensuring that all parties involved in the project adhere to the same high security standards. By fostering a security-conscious workforce, construction firms can create a human firewall that complements technical security measures.
4. Approach Cybersecurity Strategically
By treating cybersecurity as a strategic priority, construction firms can integrate it into their overall risk management framework, ensuring that it receives the same level of attention and resources as other critical business risks. Cybersecurity has to be given the time and dedication to ensure that any breaches that do occur can be dealt with efficiently and effectively.
5. Invest In Reputable Software Solutions
When selecting software, it’s important to prioritise companies with a strong track record in security and compliance, and who can demonstrate continuous compliance as well. Are they compliant with relevant ISO certifications or government standards such as Cyber Essentials?
By adopting these measures, construction firms can better defend against the evolving landscape of cyber threats.
The construction industry’s adoption of digital technologies has exposed it to significant cyber threats, making robust cybersecurity measures essential. Protecting sensitive data, training staff, and treating cybersecurity as a strategic priority are crucial steps to defend against these risks. By doing so, construction firms can safeguard their operations, reputation, and data from the evolving landscape of cyber threats.
