Engineering firms are a prime target for cybercriminals not because they make more money than other companies, but because their data is far more valuable than that of most other organizations. With the data that engineering firms hold, cybercriminals can acquire information on the inner workings of critical structures and systems the firm worked on and undermine their safety.
Preventing these cyberthreats from becoming full-blown data breaches and catastrophic failures is vital for the survival of the engineering firm and, more importantly, the safety of their clients and the public. The best thing the firm can do is to understand the types of threats they’re often exposed to. Here are some of the most prevalent cyberthreats targeting engineering firms today.
Spear phishing
Phishing is a social engineering scam that tricks employees into revealing confidential information, making fraudulent transactions, or handing over login credentials by posing as a trusted party. Usually, this is done via fake emails from partners or managers or even phone calls. These phishing attempts are most often made en masse with bulk emails or cold calls.
Spear phishing is when specific individuals are targeted with more sophisticated phishing attempts. These are more common with engineering firms, as they usually have higher digital security. However, if a cybercriminal can trick someone high up the chain into handing over login credentials, they can access and steal a wide variety of sensitive data, including:
- Company records and financial data
- Customer details
- Plans and schematics for structures and systems
- Insider information
- Personal details of employees and clients
With this data, criminals can demand ransoms or sell it to other bad actors. Engineering firms contracted by the government should be especially wary, as foreign-backed hackers have been known to penetrate these firms on behalf of hostile nations to cause national security threats.
For example, in 2013, Chinese hackers stole blueprints, server locations, and floor plans for the new Australian Security Intelligence Organisation (ASIO) HQ that was being built. When the breach was detected, the organization had to change their plans to avoid potential spy activity, which significantly increased the cost of construction.
Insider threats
Insider threats refer to cyberthreats that emerge from within an organization instead of an external party penetrating defenses. These can be disgruntled or simply careless employees or, as is often the case with engineering firms, partners and clients.
Either on purpose or unwittingly, these insiders steal, destroy, or allow bad actors to access confidential data. Engineering firms often collaborate with other firms and contractors to work on projects, and this exposes their data and network to organizations that may have lax cybersecurity measures or harbor individuals with malicious intent.
Ransomware targeting infrastructure and heavy machinery
Ransomware is of particular threat to engineering firms because of the vital systems that they are involved in. In the past, cybercriminals targeted individuals or small organizations with ransomware because they were more likely to pay the ransom due to their limited resources.
However, today’s ransomware is being used more and more to lock out data and systems utilized by engineering firms that are required to operate complex systems and heavy machinery. The consequences for these targets not operating are much more severe, so cybercriminals seeking money can ask for higher ransoms, and those groups simply looking to do damage to governments or corporations can have a massive impact.
Ransomware attacks have targeted engineering firms with connections to:
- Oil pipelines
- Factories
- Military bases
- Power grids and related systems
- Government IT networks
- Healthcare facilities
- And more
The US Director of National Intelligence, the FBI, and a wide range of other government agencies around the world consider ransomware to be “a threat to national security, public safety, and economic prosperity.”
More than most kinds of businesses, engineering firms must be vigilant against ever-evolving security threats. Defending your firm’s complex systems can be difficult, but partnering with a reliable cybersecurity partner can be a cost-effective solution. Healthy IT can implement ironclad cybersecurity tools and policies to protect your business from the many sophisticated cyberthreats your engineering firm faces. Call our office at 631-857-4964, or click here to book your FREE Security Risk Assessment now.