Construction Is a Growing Target
Construction companies don't think of themselves as cybersecurity targets. But attackers do. The industry handles high-value financial transactions (wire transfers, change orders, lien waivers), sensitive project data, employee PII, and increasingly relies on connected technologies, BIM platforms, cloud-based project management, IoT sensors on job sites, and mobile devices in the field.
Business email compromise (BEC) attacks, where an attacker spoofs or compromises an email account to redirect wire transfers, are one of the most common attack vectors in construction. A single fraudulent wire transfer can cost a contractor hundreds of thousands of dollars. And ransomware operators know that project delays cost money, making construction firms more likely to pay.
Meanwhile, cyber insurance carriers are tightening underwriting requirements. If you can't demonstrate a documented security program, your renewal is at risk.