Protect Your Business From Cyber Criminals

By Cayden Wemple.  

Cyber security is a major threat to construction businesses. These are the steps you should be taking to prepare for attacks. 

Based on recent findings by Statista, it is projected that the financial impact of cybercrime will surge to a staggering $23.84 trillion by the year 2027. Alarming trends indicate that the construction industry is progressively emerging as a prime target for cybercriminals. 

Some of these threats include:  

• Ransomware- This is a practice used by criminals that includes encrypting company data and demanding a ransom to decrypt it and return it. 
• Phishing- This is a practice used by scammers to try and steal company login credentials via text messages. 
• Business email compromise- This is used by hackers who get into company emails and start impersonating higher-ups to demand money out of other employees. 

There are several ways to combat this threat and Brilliance Security Magazine offered up some of their expert advice: 

• Update passwords frequently- Employees should be updating their passwords monthly and they should make the passwords complex by including special characters like “!”, “@”, “$”, “*” etc.  

• Implement security audits- Security audits will show the weaknesses in a company’s security infrastructure and will make it harder for cyber-criminals to attack. 

• Implement firewalls and antivirus software- It's crucial for every company to establish a robust firewall to fend off cybercriminals, ensuring that only authorized individuals can access vital information. By utilizing reliable antivirus software, companies can actively detect and block harmful viruses, thereby safeguarding their networks and systems from potential threats. 

• Hold cyber security training sessions for your team- This training helps companies reduce the likelihood of attacks by raising employees' awareness of potential threats and empowering them to defend against common cybersecurity risks