While pretty much any business or individual can become a victim of cyber attacks, some industries happen to be cybercriminals’ favorites. The alarming statistics about financial losses caused by data breaches show that many companies have no strategy on how to deal with these threats and still aren’t doing anything despite these very loud wake-up calls.
In the first half of 2019, 4.1 billion of data records were exposed, according to the HelpNet Security, while the average loss caused by a data breach is estimated at $3.86 million for businesses. The vast majority of these cyber attacks occur through phishing emails, with the help of well-crafted social engineering techniques. All it takes to gain access to a company’s sensitive data is to lure its employee to open the malicious email and click a link or a file attachment in it. If this employee works in a particularly vulnerable unit and has access to sensitive data, this could seriously threaten the organization’s whole existence.
While phishing is not something new and some businesses are fully aware of the risks, somehow the employees still fall for it. One out of three employees click the malicious attachments or links after opening the phishing email, and one out of every eight employees share the information demanded by the attackers. This shows how weak cybersecurity culture actually is in most of the businesses.
Even after so many documented cyber incidents, some businesses still lag behind in their preparation. Small businesses are way less prepared than big ones. According to the Ponemon Institute report, more than 67% of companies with fewer than 1,000 employees have experienced a cyberattack, and 60% of them could potentially go out of business due to damages associated with cyberattacks.
The most vulnerable sectors to cybercrime
As we can see, cybercriminals don’t discriminate by size. But which sectors are most likely to attract them? Various reports show that some of the sectors most vulnerable to cyber attacks in 2020 are: