Why Are Cyber Attacks Dangerous for the Construction Industry?

Today, many companies in the construction industry have unusually high success because they use new digital technologies in their work. More and more digital tools hit the tech market and help business representatives to achieve their goals. 

Thanks to construction estimating software by Conwize, robotics, management tools, drones, 3D printing, building information modeling systems, and other high-tech solutions, present-day companies have increased work efficiency, and productivity, and reduced the risk of failures.

However, with their appearance, a global large-scale problem arose – the lack of proper data protection in software, where all confidential information is stored, and not only regarding the project, employees, etc. We will analyze what needs to be done to prevent information leakage and protect your business from fraudulent activities.

Cybercrime in the Construction Industry

The construction industry has become a popular target for cybercriminals because it is the least protected from this type of attack. The construction industry is often compared to real estate as the recent spread of the COVID-19 virus has forced almost all companies to go online. 

The use of software helps to quickly and efficiently manage all information. To keep successful, you need to improve and continue to use the latest in the digital industry and take up the issue of protecting your data tightly.

What Should Be Considered When Dealing with Third Parties in Cyberspace?

An important issue is the role of third parties in cybercrime. Suppliers, subcontractors, and other employees can greatly increase the risk of being attacked by scammers. Each construction company must evaluate all risks and check the employee before starting cooperation with him.

What can happen?

• Having a report inside your system. The third party must strictly comply with the security rules for working in cyberspace. To confirm her actions, she must provide a so-called internal report. It includes five items, among which are security, availability, processing integrity, confidentiality, and confidentiality.

• Assess the security measures taken against cyber criminals. The third party should do it themselves, and make sure they have insurance against possible attacks. Such insurance can be multi-factor verification and unique identification.

• The existing system is poorly-managed. That is why no notifications are sent when cybercrime takes place. Consult competent experts in the niche of cyber security to tailor your ecosystem to new protection algorithms.

It is worth noting that each construction company should obtain a precise strategy to do away with cyber threats. Optimize your approaches against today’s hackers regularly. Take a closer look at the range of recommendations for present-day contractors and other business representatives from other sectors and of other directions.

How to Protect Your Construction Company from a Cyber Attack?

Most criminals who operate in cyberspace attack in such a way that software is always at risk. The first step is to check the operation of programs that are responsible for the cybersecurity of data. One of the effective ways to fight cybercrime is to have IT specialists on your team. They will be able to constantly monitor the programs, maintain them and upgrade them for more advanced and more dangerous attacks.

After the implementation of basic security measures, it is necessary to develop a strategy in case of situations that have already occurred, as well as an additional plan of action. If the security software is reliable enough, then fighting and reducing the risk of being attacked by cybercriminals will be significantly reduced.

Additionally, there are general tips for entrepreneurs that are applied by contractors as well:

• Develop a backup plan. This way you can decide on essential steps to restore your corporate ecosystem in case of any cyber attack.

• Invest in your team onboarding and training. Your teammates should be ready for various scenarios in the context of your cyber security in the company. Let them know how to act fast and efficiently when your system is at risk.

• Develop safe passwords, use VPNs, and do not neglect encryption together with multi-level authentication. 

It is also recommended to implement only modern software to the existing ecosystem that obtains in-built smart security algorithms. That way you will be sure that your corporate data together with your stakeholder’s information and other sensitive data entries (including historical data for analytics) are kept safe.