Cyber-attacks can happen to any business, but some industries are more at risk than others. From healthcare to finance, these industries are prime targets for cyber-attacks.

Let's take a look at why they need extra protection and what measures they can take to keep their data secure.

Industries Most Targeted by Cybercrimes

The following industries are at a higher risk for cyber-attacks and should give extra attention to cybersecurity.

1. Manufacturing

In 2021, the manufacturing industry is the #1 most attacked industry based on the X-Force Threat Intelligence Index of IBM. The industry relies heavily on technology, making it vulnerable to hacking and data breaches. These risks can result in lost revenue, harm to reputation, and damage to equipment and employees.

2. Finance and Insurance

The average cost of a data breach in the financial sector reached nearly 6 million USD in 2022. The finance industry handles large amounts of sensitive financial information. Without proper cybersecurity measures in place, this information is vulnerable to cyber-attacks. Additionally, the finance industry is heavily regulated, and failure to follow regulations can result in severe penalties.

Related article: FTC Safeguards Rule: What You Need To Know

3. Professional and Business Services

The third-most targeted industry is the services industry. These businesses have important information that cybercriminals want, such as client data and financial information. Additionally, they have employees that work remotely, which can make it harder to keep their information safe.

4. Healthcare

The healthcare industry is facing a growing threat from cyber attacks. In 2022, the industry had a 74% increase in cyber-attacks. One major reason for the increase in attacks on the healthcare industry is the growing use of electronic medical records. These records contain social security numbers, birth dates, and medical history. Hackers can use this information for identity theft or sell it on the black market.

5. Retail and Wholesale

The risk of cyberattacks extends to retailers and wholesalers. Retailers often have a large amount of personal and financial information on their customers. This makes them a valuable target for hackers. The industry has been moving towards online sales, which increases the attack surface and complexity of the systems. In 2021, the retail sector saw a 75% increase in ransomware attacks, making it the industry with the greatest rate of such attacks.

How Can Businesses Better Protect Themselves?

Cyber-crimes can be a big problem for many businesses across all industries. To protect their business, companies can take several steps such as:

  • Use strong passwords and change them regularly. This can help to prevent hackers from guessing or stealing passwords.
  • Use security software to protect devices from malware and other types of cyber-attacks. Ex.: anti-virus software, VPNs, etc.
  • Train their employees to be aware of the risks of cybercrime and to take steps to protect themselves and the company. This can include things like not clicking on suspicious links or attachments, and not sharing passwords or other sensitive information.

Aside from these, companies can also work with Managed Service Providers or MSPs.

MSPs are companies that provide a range of IT services to other businesses, including security services. They have specialized knowledge and expertise in cybersecurity which can help companies to defend against potential cyber-attacks.

Other benefits include:

  • MSPs can provide advanced threat detection and response services.
  • MSPs can help put in place industry-specific security protocols and standards.
  • MSPs can provide incident response planning and training.

By working with a managed service provider, companies can take advantage of the latest security technologies and best practices to better protect their business and sensitive data.

Final Thoughts

In conclusion, it is clear that industries across the board are in need of advanced cybersecurity measures. The potential risks and consequences of a cyber-attack are too severe to ignore.

Investing in cybersecurity is no longer a luxury, but a necessity for any organization. Let's work together to build a safer and more secure future for your business and clients. Contact us today!