Expert Warns Construction Industry on Costly Ransomware Attacks

Ransomware attacks are a serious threat to all businesses, but especially for small businesses.

The construction industry is particularly vulnerable to ransomware attacks because of the large amount of personal digital information they hold and the reliance on specialized software and equipment. Why? Because ransomware attacks can cause significant disruption to construction projects and businesses, leading to costly delays and financial losses.

Ransomware is a type of malware that encrypts files on a computer, making them inaccessible to the user.

The attackers then demand a ransom payment to decrypt the files. Ransomware attacks can be very costly for businesses, both in terms of the ransom payment itself and the cost of lost productivity. In 2019, the average ransom payment was $116,000.

There are a number of things that businesses can do to protect themselves from ransomware attacks.

These include:

• Backing up data regularly
• Using strong passwords and security software
• Educating employees about ransomware
• Having a disaster recovery plan in place

By taking these steps, businesses can help to reduce the risk of a ransomware attack.

If a business does fall victim to a ransomware attack, there are a number of things that they should do.

These include:

• Contacting law enforcement
• Disconnecting the infected computer from the network
• Notifying customers and partners

By taking these steps, businesses can help to mitigate the damage caused by a ransomware attack.

Ransomware attacks are a serious threat to businesses of all sizes.

The construction industry is particularly vulnerable to these attacks because of the large amount of sensitive data they hold and the reliance on specialized software and equipment. By taking the necessary steps to protect themselves, businesses can help to reduce the risk of an attack and mitigate the damage if one does occur.