In today's rapidly evolving digital landscape, Forsspac, like many others, face increasing cyber security threats that can compromise sensitive data, disrupt operations, and have a substantial financial impact or even kill off a business.
As a company dedicated to enhancing the value, safety, and sustainability of buildings and infrastructure projects, we believe it's imperative to prioritise robust cyber security measures.
Let’s go through how you can identify risks and manage your cyber security.
Cyber Security - Understanding the Risks
The construction sector's adoption of technologies like Building Information Modelling (BIM) and cloud-based project management tools has improved efficiency but also expanded the attack surface for cyber criminals.
Key vulnerabilities include:
Diverse Supply Chains: Collaborations with multiple subcontractors and suppliers can introduce varying levels of cyber security maturity, creating potential multiple entry points for attackers.
Valuable Data: Handling sensitive information, such as design data, financial records and client details, makes construction firms attractive targets for cyber threats.
Legacy Systems: Reliance on outdated software and hardware can expose firms to vulnerabilities if not properly secured.
Cyber Security - Potential Impacts
A successful cyberattack can lead to:
Financial Losses: Direct theft, fraud, or ransom payments, along with costs associated with responding to and recovering from an attack.
Operational Disruptions: Compromised systems can halt design and construction activities, leading to project delays and contractual penalties.
Reputational Damage: Breaches can erode client trust, resulting in lost business opportunities.
Cyber Security - Proactive Measures
To safeguard your construction business:
Conduct Regular Risk Assessments: Identify vulnerabilities and prioritize them based on potential impact.
Implement Cyber Hygiene Practices: Ensure the use of strong passwords, enable multi-factor authentication, and keep software updated.
Secure the Supply Chain: Collaborate with subcontractors and suppliers to ensure they adhere to robust cybersecurity standards.
Invest in Employee Training: Educate staff to recognize potential threats, such as phishing emails, transforming them into the first line of defence.
Establish Backup and Recovery Plans: Regularly back up critical data and test recovery procedures to ensure business continuity.
Engage Cybersecurity Experts: Partner with professionals who understand the unique challenges of the construction industry to provide tailored solutions.
Forsspac has taken on board the following strategic measures during 2024:
o All cloud-based resources now require a variety of multi-platform authentication
o Passwords are now multiple element and are regularly changed
o Installed a well respected high end security platform (Not just your regular end-to-end system)
o Run threat simulation exercises backed up with intensive training programs for our staff
o Developed awareness of AI powered attack systems
o Hired an external security firm to test our resilience
o Full system vulnerability assessment has been carried out
Building a Resilient Future with Cyber Security Management
Actively investing in cybersecurity is essential for the future of your company. As cyber threats evolve, a proactive approach is essential to protect valuable assets of service delivery and protect your company as a whole.
At Forsspac we take cybersecurity seriously to make sure we have done the very best that we can to defeat the inevitable cyberattacks. This benefits not only ourselves, but safeguards our clients and projects we are proud to be working on.
To find out more get in touch.
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