After years of falling behind, the construction industry has realised the importance of its data. Construction-related businesses invested a remarkable 188% more in cybersecurity in 2018–19. Data leaks and cyberattacks have jolted sectors worldwide, affecting everyone. 55% of UK businesses experienced a cyberattack in 2019 alone, and the average damage resulting from breaches is £176,000. This is why every company needs to choose an effective cyber protection system to stop attackers from ruining all they have laboriously built.

Some of the most significant construction projects in the UK are the result of joint ventures. Joint ventures (JVs) are business entities created by two or more parties, characterised by shared ownership, shared returns and risks, and shared governance. Therefore, the data they manage must be secured to protect vital infrastructure. Joint ventures must secure their websites, computer systems, and data, since failing to protect this information impacts individual firms and may jeopardise national security. To this end, the UK government, in collaboration with the construction sector, has introduced new guidance to promote information security through implementing security best practices in the construction sector.

Joint Ventures and Information Security Risks

The construction industry benefits from increased productivity, lower costs, and expanded data exchange thanks to digitalisation. Additionally, it is establishing a paradigm where ever-increasing amounts of data are generated and digitally preserved for each project. The confidentiality, integrity, and availability of a project’s information and IT systems are increasingly critical to its success. Due to these developments, the industry is becoming more and more attractive to threat actors, such as cybercriminals, foreign state actors, and nefarious insiders, who may try to steal, inappropriately use, alter, damage, or prevent access to crucial information with the potential to have a severe impact on victims.

It’s important to note that all sizes of construction businesses (Read more...)