The 6 industries most vulnerable to cyberattacks
The finance, iGaming, and healthcare sectors are among the most vulnerable to cyberattacks. Of course, some industries are more attractive to cybercriminals than others.
Cyberattacks are growing, and certain sectors have become favorite targets due to the value of their assets, the amount of data they handle, or their cybersecurity deficiencies. Public administration, retail, and manufacturing have also been increasingly targeted by sophisticated attacks.
Attackers are constantly refining their methods to exploit vulnerabilities, making proactive cybersecurity more critical than ever.
Top 6 industries most vulnerable to cyberattacks
1. Finance
The financial sector is a constant target of attacks due to the amount of money in circulation and the value of the information it handles. In 2023, there was a 53% increase in cyberattacks against banks and fintechs, including Web3 and crypto, with more than 4,400 incidents reported.
Advanced groups such as Lazarus have used fake identities to infiltrate companies in the sector, carrying out highly sophisticated espionage missions, while ransomware groups such as Lockbit 3.0 have been responsible for multiple extortions in this sector. But ‘minor’ attacks such as data breaches have also been detected. Be that as it may, it is one of the sectors that needs to strengthen its cybersecurity as much as possible.
Why are they vulnerable?
- The high volume of digital transactions.
- Phishing attacks target executives and employees, with the use of AI, making it increasingly difficult to detect.
- Vulnerabilities in payment and digital banking infrastructures, outdated systems, and lack of updated devices.
2. iGaming
The gaming and online gambling sector has experienced a boom, positioning itself as one of the most important sectors today with the highest market demand. With it comes an increase in cyberattacks, as cybercriminals do not miss such opportunities.
According to SecurityBrief, in 2024 there was a significant increase in threats targeting online gambling platforms and casinos. Attacks include player data theft, financial fraud, and DDoS attacks to disrupt platforms.
Why are they vulnerable?
- The high volume of cryptocurrency and fiat transactions.
- Lack of unified regulation in many markets.
- Use of bots and scripts to exploit vulnerabilities in games and payment systems.
3. Healthcare
Another sector that deserves special attention is the healthcare sector. Hospitals and healthcare facilities are strategic targets where the greatest impact has been seen in relation to the ransomware phenomenon. In 2023, more than 500 attacks on healthcare systems were reported in the US alone, compromising medical records and crippling essential services.
Why are they vulnerable?
- Outdated infrastructure, out-of-date systems, and reliance on IoT devices and interconnected systems with poor security.
- Large amounts of sensitive data (medical records, insurance, payments) of interest to cybercriminals to buy and sell.
- Staff with little technological training, lack of awareness campaigns, and lack of adaptation to the security measures required by new technologies.
4. Public Administration
Governments and government agencies have been frequent victims of cyberattacks, ranging from data theft to ransomware attacks. In 2024, several state entities suffered massive leaks of confidential information.
It is a common phenomenon around the world, as it is the focus of different types of criminal actors, from complex espionage campaigns for geopolitical interests to obtaining databases with sensitive information for sale on black markets.
Why are they vulnerable?
- Inadequately maintained and poorly monitored legacy systems.
- Lack of investment in cybersecurity in some countries and a lack of awareness.
- The high value of personal data and classified documents.
5. Retail
Retail is another high-risk sector, especially with the increasing digitization of payments and the rise of e-commerce. In 2024, multiple breaches were detected on large online retail platforms, exposing the data of millions of customers.
Massive data breaches due to vulnerabilities allow cybercriminals to access the personal information of millions of customers, leading to various scams and fraudulent purchases using this stolen data.
Why are they vulnerable?
- Payment systems are exposed to malware and skimming attacks.
- Lack of multi-factor authentication on many platforms.
- Large volumes of customer data are easily accessible in databases.
6. Manufacturing
Attacks on the manufacturing industry have grown with the digitization of factories and the growing use of IoT. Attacks to business partners and software supply chains account for 15% and 12% of attacks, respectively, according to the 2023 Cost of a Data Breach Report by IBM Security.
Why are they vulnerable?
- Reliance on industrial control systems (ICS) with poor security.
- Use of IoT devices without security updates.
- Risk of sabotage and industrial espionage.
How to protect your business from cyberattacks?
To reduce the risk of attack, businesses need to take a proactive approach to security. Here are some key strategies:
- Implement multi-factor authentication to reduce the risk of unauthorized access.
- Keep systems up-to-date and attack vulnerabilities to prevent known exploits.
- Continuously monitor the network to detect suspicious activity early and prevent incidents.
- Train employees in cybersecurity to prevent phishing attacks and internal fraud.
- Protect data with encryption to prevent information from being readable in the event of a breach.
- Partner with cybersecurity experts who know your sector inside out.
Make security your priority
No matter what industry you operate in, cybersecurity is a fundamental pillar. At Clovr Labs, we understand that every business is unique, and we make it our priority to help them safeguard their systems and manage sensitive data within complex, critical operations.
Backed by deep industry expertise, we’re here to help you build a tailored security strategy that fits your company and your sector’s needs, letting you focus on your business.
Contact us today and find out how we can help you strengthen your company’s security.
