By NAHB
The toll data breaches are taking on U.S. businesses is on the rise, and construction firms – especially general contractors – are becoming a more popular target for cyber criminals.
The FBI’s Internet Crime Complaint Center reported that in 2022 it received more than 800,000 complaints of cyber crimes with losses of around $10.3 billion, up sharply from $6.9 billion in 2021. Phishing was the most common type of complaint received with more than 300,000 reported while business email impersonation scams cost companies more than $2.7 billion last year.
A recent survey revealed that 59% of architecture, engineering and construction firms have experienced a cybersecurity threat in the past two years, including 70% of general contractors. Contractors are not seen as the ultimate target of cyber criminals, however. Most attacks are targeting client data.
