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Are You At Risk? Here Are the Industries with the Highest Cyber Security Risks

As time goes on, the cybercrime industry is expected to drastically increase in value. This is due in part to the rapid development of cyber threat methods and tools. In fact, the industry is projected to exceed over $10 trillion in value

Although almost every professional sector is at risk when it comes to cyber security threats, certain industries remain at a higher risk than others, especially because of hybrid workspace practices and slow digitization methods. 

It’s important to know when your professional industry is at a higher risk than others for a breach. Here are the top five industries with the highest cyber security risks.

[Related: 5 Ways to Secure Your Data and Protect Your Privacy Online]

Finance

This one may seem obvious. The finance industry is one of the largest targets when it comes to cyber security risk because of its maximum revenue and impact. Last year alone, the financial industry made up nearly 26% of all malware attacks. This is because the financial industry contains so much private and valuable information pertaining to customer data, and access to account information that could lead to huge monetary losses. 

Energy

The energy industry is another sector that should always keep on top of cyber security risk assessments. Many organizations in the energy sector struggle to keep up with the latest and best practices of IT security and rely on outdated systems that are particularly vulnerable to attacks.

Rather than obtain information, hackers typically aim to target energy companies in order to create disruptions within electricity or gas provision. They then can use this control to leverage and begin making demands or threats. In theory, one “smart” group of cyber criminals could make a large amount of money during a single incident if energy industry victims agree to pay their ransoms.

[Related: 6 Signs Your Business Has Been Hacked]

Construction

Although it may seem like an unlikely industry to target, those in the construction business run a large risk when it comes to cyber security. This is because they tend to be a bit behind the curve when it comes to tech and security practices. Construction professionals are not always trained on best practices when it comes to cyber threats.

The most common cyber security threats to the construction industry include:

  • Ransomware
  • Phishing scams
  • Fraudulent wire transfers
  • Breach of intellectual property
  • Breach of financial data

Healthcare

With its collection of highly sensitive and personal identification information, including financial information, the healthcare industry is another industry with an incredibly high cyber security risk. Things like names, addresses, social security numbers, and health insurance identification and account numbers provide a wealth of information for hackers to steal identities or commit fraud. 

[Related: 5 Managed IT Statistics All Small Businesses Could Learn From]

Telecommunications

Since the telecommunications industry serves millions of individuals over an endless amount of industries, they are generally at a high risk of cyber security threats. Cyber criminals circumvent access points to this data and exploit infrastructure vulnerabilities. Since customers communicating with these professionals tend to trust them with their personal information, any sort of breach using malware or fraud could put that information at risk.

Keep Your Industry Protected with CMIT Solutions

If you work with one of these industries with the highest cyber security risks, you shouldn’t have to worry constantly about threats. Working with a professional such as CMIT Solutions of Bothell can streamline your cyber security process and keep your business on top of the curve when it comes to protection. 

CMIT Solutions of Bothell has years of experience with a variety of professional industries, each with their own unique needs and goals. 

Want to learn more about what we have to offer? Get in touch with us today and see how our cyber security services can help your business thrive.

Featured image via Pexels

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