To the average construction company owner, cybersecurity may seem like a problem that only big corporations like Caterpillar, Microsoft or Amazon should worry about. But in fact, global cybercriminals know these big companies are almost impenetrable. Today’s hackers target smaller, more vulnerable enterprises, particularly construction companies.
According to a study conducted by Safetydetectives.com, construction companies were the third most common type of industry to be targeted by hackers—more than 13 percent of the total. And according to the website Cybertalk.org, in 2020 - 2021 nearly one out of every six construction firms reported a ransomware attack.
“Construction companies are one of the top targets for cybercriminals and the United States is the number one target on the planet,” says Nick Espinosa, chief security fanatic at the cybersecurity firm Security Fanatics. “In the last few years, the construction industry has woken up to the fact that its members need cybersecurity advice. There's a recognition now in a way that there hasn't been,” he says.
Russ Young is vice president of growth for Tenna.Tenna
Nick Espinosa is a cybersecurity expert and founder of Security Fanatics.Nick Espinosa
Ransom. Criminals hack into your system and lock up or remove the data you need to operate, then demand a ransom. As every contractor knows, work stoppages even for a day or two are terribly expensive. Cybersecurity consultants can sometimes negotiate a ransom payment down, but unless you’re well prepared, you’re still going to pay something. “Understand that the horse has left the barn at that point,” says Espinosa.
