Cybersecurity Solutions for Construction Companies
In an era where digitalization seems to be transforming the construction industry, from project management to blueprints, cybersecurity threats remain a looming concern. With construction identified as a prime target by cyber criminals, protecting your digital front can be as crucial as securing your physical site.
Why is Cybersecurity Important for Construction Firms?
Project Security & Confidentiality
Construction is the #1 most targeted sector by cyber criminals. Construction projects may involve sensitive blueprints, bids, and contractual documents, which can be attractive to attackers.
Operational Continuity
Projects may involve many digital tools, increasing the risk of cyber breaches that can disrupt operations by causing downtime and delays. A study conducted by IBM found that 74 percent of construction-related organizations are not prepared for cyberattacks and do not have an incident response plan in place.
Multiparty / 3rd Party Risks
Multiple parties and vendors may be involved in construction projects, potentially increasing the risk for an internal or external bad actor to cause a cybersecurity breach.
Construction Cyber Losses by Type
Business Email Compromise
A construction management firm lost $800,000 due to an email scam involving a railway expansion project in California. Cybercriminals, exploiting email vulnerabilities, impersonated a partnering engineering firm to redirect legitimate payments to their fraudulent account. This incident not only showcases the financial risks of cyberattacks but also underscores the importance of robust cybersecurity measures within the construction sector.
Acrisure Understands Cybersecurity Needs of Construction Businesses
- Personalized Cybersecurity Solutions: Built for the unique needs of the construction industry.
- Broad Protection: Combining cybersecurity, IT support, and cyber insurance solutions.
- Proven Track Record: Trusted by construction businesses nationwide.