In construction, the use of digital technology is growing fast. Many different tools and software solutions are available to improve efficiency and streamline business management processes.
However, with new benefits come new risks. Learn about the common cybersecurity risks in construction and discover how Raken helps keep your data safe.
What are common cybersecurity risks in construction?
The most common cybersecurity risks faced by construction companies are:
Phishing
Ransomware
Data breaches
Fraudulent wire transfers
Phishing
Phishing is a technique cybercriminals use to steal information. The perpetrator will typically send an email impersonating a trusted business or personal contact and invite the victim to use a malicious link or submit account information, passwords, and other sensitive data under false pretenses.
For example, a phishing scam might look like an email from your manager, asking you to provide the password to an account you use for the business.
It’s important to closely check the sending address of emails before opening them, clicking links, or replying.
Ransomware
Ransomware is a type of malicious software that locks a user’s access to files on their device through encryption. It is typically spread through phishing scams or fraudulent downloads.
Once a user’s files are locked, the perpetrator will attempt to extort money to restore access, or they may threaten to expose the user’s personal information.
Never click suspicious links or download files from an unknown source.
Data breaches
Data breaches are often the end result of phishing and ransomware scams. When a data breach occurs, the perpetrator obtains access to sensitive data about the company, their employees, or their vendors.
Banking information, personal information, and intellectual property are common targets. The perpetrator will use stolen data to commit further fraud or sell it to third parties.
Fraudulent wire transfers
The construction industry is particularly vulnerable to fraudulent wire transfers. A perpetrator will send a fake invoice to the victim, demanding immediate payment.
Working on multiple complex projects, construction companies are likely to have numerous bills being processed through their offices at any given time. Be vigilant about the payments you make and use secure payment methods.
How to prevent and mitigate cybersecurity threats
To prevent cybersecurity threats or mitigate their consequences at your construction company, follow these steps:
Avoid account sharing
Train your employees
Use secure systems
Backup your data on the cloud
Avoid account sharing
Sharing account credentials between multiple users gives fraudsters more opportunities to steal your data. The more people there are with access to sensitive information, the more touch points that perpetrators have to try and steal it.
A software provider may require you to purchase individual licenses for software access for multiple reasons. One of the main reasons is security. Unique usernames and passwords are meant to be protected.
Additionally, individual users can be better held accountable for the way they utilize the software when they do not share access. You can also more quickly adjust permissions when needed in the event an employee is fired or has a conduct issue.
Follow all guidelines given by the software provider for strong password creation and keep your accounts secure.
Train your employees
Arm your employees with the knowledge they need to identify and avoid cybersecurity risks.
Provide training that covers how to spot phishing emails, ransomware, and other cybersecurity scams. It should also teach employees how to create strong passwords.
Establish policies and procedures that encourage employees to follow best practices. Explain the importance of keeping account information secure, and make sure your employees understand how doing so protects not just the business, but also their own interests.
Use secure systems
Make sure that any software systems your business uses are safe and secure. With so many options, it’s important to find technology partners with the highest standards in the industry.
Look for SOC 2 certification, which a company can only obtain after a thorough audit by a certified public accountant (CPA). SOC 2 certification measures a software’s capability to protect customer data from cybersecurity risks, unauthorized access, and other vulnerabilities.
Backup your data on the cloud
Storing data on the cloud, the global internet-based infrastructure, can seem riskier than storing it on a physical hardware system. In reality, the cloud offers greater security measures than a physical hard drive, according to Norton.
The cloud protects your data with consistent updates, built-in security measures like firewalls, and automated data backups. Because it’s maintained by third parties, the business itself doesn’t have to worry about security testing, and can instead leave maintenance to the experts, which is especially appealing for smaller to medium sized companies that do not have their own dedicated IT departments.
While a physical system can fail, causing you to permanently lose data, you can almost always guarantee recovery from the cloud no matter what happens.
How Raken keeps your data safe
Raken’s mobile field management tools make completing daily reports, time cards, checklists, and other critical functions fast and easy. And, we take security seriously.
We offer:
SOC 2 certified solutions
Secure cloud storage - All your project data is securely stored and backed up on the cloud
Integration with Google Drive and OneDrive
Integrations with Egnyte secure content management tools - Save your documents in organized folders with permission-based access
User account permissions - Give team members only the access they need
Collaborator access - Invite collaborators to use Raken without giving them the keys to your projects
Accountability - Easily see who entered information and track changes
Raken helps construction businesses collect and share field data securely.
Our digital toolbox includes solutions for:
Daily progress reporting
Time and production tracking
Safety and quality management
Document management
Want to learn more? Check out all of our features.
Try Raken today
Schedule a personalized demo to see exactly how Raken’s award-winning web and mobile app can streamline your field management process.