IoT and smart buildings cut cost, carbon emissions and improve workspace for occupiers. But they present new opportunities for cyber criminals too.

What you need to know:

  • Cyber criminal activity is growing exponentially spurred on by IoT devices and digital transformation*
  • Ransomware attacks increased by 438% in 2020 vs 2019*
  • IoT and smart building technologies provide gateways for cyber criminals intent on accessing corporate data from you and your occupiers.
  • The cost of a ransomware attack has tripled in the last 2 years to $300k per incident and some of the biggest attacks commanding £10m ransom demands** 
  • PropTech start-ups are often young, small, and vulnerable. 
  • Vulnerabilities can be detected by criminals from the street and online.
Sources: *Forbes **Computer Weekly
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A Backbone Connect light paper: Cyber Security

A Backbone Connect light paper: Cyber Security

LIGHT PAPER

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Are you vulnerable to cyber attacks?

Businesses using smart and IoT technologies must take extra measures to defend their reputation.

Do you hold sensitive corporate data?

Do you hold sensitive corporate data?


 

Have you installed IoT and smart technologies in your office building?

Have you installed IoT and smart technologies in your office building?

Do your tenants hold or process sensitive corporate data?

Do your tenants hold or process sensitive corporate data?

What is the impact of a cyber attack?

Where at one time a security breach may have been a slight embarrassment, a security breach now has severe repercussions, including:

REPUTATION 

A cyber security incident is difficult to hide and the reputational impact can be long lasting affecting investor and customer confidence for the long term. A study in 2019 found companies on average suffered a share price fall of over 7% following a data breach.

OPERATIONAL DISRUPTION 

Smart Buildings use IoT to control many building functions including heat, lighting, water, connectivity, and more. The risk of disruption to your building operations is significant and dangerous. 

GDPR AND DATA PROTECTION 

Even as a victim of a cyber-attack, you can be liable depending on how and where you store data.

FUTURE OF THE BUILDING 

Cyber attacks negatively impact credit ratings and investor confidence, meaning the future of your building is threatened by cyber breaches. 
 

Get in touch

Smart Building Cyber Risk Assessment

Our Smart Building Cyber Risk Assessment is a 360-degree review of your physical environments, hardware and IoT, platforms and data, and partners. From the assessment, you’ll:

•    Pin point smart building weaknesses 
•    Reduce the threat of cyber attacks
•    Protect your reputation, investors, and occupiers.

Get in touch

For more information about how Backbone Connect can reduce the threat of cyber attacks on your smart building contact us using the form here: