5 Industries At Highest Risk of Cyber Attacks

From predicting stock levels to pulling together client projects, there’s barely an area within any industry that doesn’t now rely on technology to operate. And although all this progress has had some fantastic effects, it brings with it a host of complications when it comes to security.

Cybersecurity is a huge, and growing, issue for all types of business. Statistics for 2020 show that hackers attack roughly once every 39 seconds—that’s an astonishing 2,244 times in a single day! 

Recent security research suggests most companies have poorly protected data and inadequate cybersecurity in place. 43% of breaches involve small businesses, who are often targeted on the assumption that they have less resources in place to safeguard their valuable data.

With the average cost of a data breach sitting at $3.9 million, it’s absolutely crucial that you prepare your business with the right IT strategy and make awareness, prevention, and cybersecurity best practice a part of what you do. So which industries are most at risk?

Financial Services

With monetary extortion at the heart of most cyberattacks, there is a clear incentive for hackers to target companies who work as part of the financial sector. 

With many financial services now largely working remotely and the increasing use of apps and websites for monetary transactions, this industry seems like low-hanging fruit to criminals who are after a quick payday. 

Healthcare

Healthcare organizations store large amounts of sensitive personal information from their patients. This makes them a prime target for cybercriminals, as that information can be highly valuable on the black market.

In addition, health care sectors have a reputation for being under-resourced in respect to their IT provision and can often be seen as an easy target by fraudsters.

Government Agencies

Confidential data is also part of the reason that government agencies, or those smaller businesses who deliver on government contracts, are frequently subjected to cyberattacks. The information they handle can make them prone to scams such as malware or phishing attacks, often in multi-layered stages that collect information to use later on.

Legal Services

Lawyers and related legal services are also highly likely to become victims of cybercrime operations. There may be personal information and legal confidentiality at risk with any data breach, making it highly disastrous for firms that trade on reputation and discretion. Securing all points of entry to valuable data must be a priority for those operating in the sector.

Real Estate

With the sums of money involved in the average real estate transaction, it’s little wonder that this area is another that draws criminal activity regularly. Monitoring for threats to IT security and developing a solid strategy around technology is the strongest defense for busy real estate businesses.

Effective cybersecurity all starts with a clear plan, and any business without one is certainly running a lot of risk. Working with specialists in managed IT services to implement proactive security measures can minimize risk and help to safeguard your business and your customers from harm.