The digital age has transformed the construction industry, creating new possibilities and streamlining workflows in ways we couldn’t imagine just a few years ago. But this new world comes with risks as well. It’s essential for construction leaders to recognize cyber threats and the potential they hold to harm your company. Here are six pressing cybersecurity concerns and strategies that can help mitigate the risk they represent.
1.    Obsolete software
When bad actors take charge of your systems, your financial data is at risk. Keep hackers out of your sensitive data and critical project files by making sure software is up to date. Apply patches and updates as soon as they’re available. Consider investing in modern project management, CRM and accounting systems, which come with rigorous cybersecurity protections that older versions lack.
2.    Supply chain vulnerabilities
A data breach often doesn’t stop at one system. Poor cybersecurity practices by vendors, subcontractors and third-party technology providers can expose your private data. Verify that all partners and suppliers adhere to best practices to maintain adequate security, which helps protect your company as well as theirs.
3.    Human error
High turnover and a focus on physical safety in the construction industry often combine to make cybersecurity training a low priority. That’s a mistake, given the severity of the risk if something goes wrong. One trending threat is Business Email Compromise, where fraudsters hijack a vendor's email to divert invoice payments to fraudulent accounts. Because these requests appear to come from legitimate sources, businesses must implement controls to verify any payment changes via a confirmed alternative method, such as a phone number already on file. Establish and enforce a clear security policy that includes mandatory two-factor authentication and ongoing training to help employees identify and respond to sophisticated phishing attempts.
4.    Insecure devices and access points
Protect your entire system by securing both digital and physical assets: update operational technology and smart devices immediately, replacing weak factory defaults with strong, unique credentials to block hacker access. Since mobile devices in jobsite trailers are high-risk targets for theft, ensure all laptops and smartphones are protected with full-disk encryption and remote-wipe capabilities to prevent a physical breach from compromising your network.
5.    Data loss
Hackers sometimes find a way in even if you’re careful, and technology glitches affect the biggest providers on a regular basis. Make backing up all your essential data a priority, but don’t stop there. Take the time to ensure your backups are stored securely (including in an off-site location) and that you can use them if you need to. Nonfunctional backups are common, and you don’t want to learn that yours fall into that camp during an emergency.
6.    Unidentified security gaps
You’ve updated software and systems. You’ve done the training. And yet, your systems have been compromised and work is at a standstill. Reduce the chances of this all-too-common scenario happening at your construction company by getting expert help to assess your cybersecurity and develop an incident response plan. Penetration testing and other techniques can help you find weak points before hackers do.
The cybersecurity professionals at Mauldin & Jenkins know your industry and can offer you actionable insights and strategies to reduce the risk of ransomware and other cyber threats — real-world risks that can expose your construction company’s financial data, damage your reputation and prevent you from attaining your business objectives. Contact us to find out how we can help.
