As time goes on, the cybercrime industry is expected to drastically increase in value. This is due to the fact that hackers are continually developing tools and methods to gain access to sensitive data.
In fact, the industry itself is projected to exceed over $10 trillion in value. Some industries have more cyber security risks than others, and it’s important to know this information in order to conduct proper risk management.
Let’s take a look at the top five industries with the highest cyber security risks.
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Finance
It shouldn’t come as a surprise that the finance industry is one of the primary targets for cybercriminals. In fact, hackers that target financial institutions have been known to get particularly creative. To clarify, it’s not uncommon for criminals to surreptitiously remove money from 401(k) accounts.
This is also a scenario that is highly difficult to recover from, as the money is often considered lost once it leaves the account.
Healthcare
Interestingly, many people overlook the fact that the healthcare industry is rife with valuable data.
Upon closer inspection, it’s easy to see why healthcare facilities are such lucrative targets. They deal with a large number of patients on a daily basis and store notable personal identification information about each individual. Even a single data breach would be highly profitable for hackers.
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Energy
Organizations in the energy sector should never overlook a cyber security risk assessment. Unfortunately, hackers tend to target companies in this industry in order to cause chaos instead of directly generating a profit.
To elaborate, criminals might aim to create disruptions within electricity or gas provision, leaving millions of people without access to these services.
In the event that hackers are able to fully compromise control, they can leverage this to begin making demands. In theory, a proficient hacking group could make billions of dollars during a single incident if their ransoms are paid by the victims.
Construction
The construction industry has an interesting risk associated with it. More often than not, construction professionals use a minimal amount of tech.
This means that they are not always trained on how to recognize a virus infection or phishing attack. All it takes is for a single fraudulent email to provide a hacker with access to millions of dollars in data.
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Telecommunications
Telecommunications companies serve millions of clients across thousands of industries.
Companies in this sector are also generally trusted by their clients and customers. If a hacker were able to access a telecommunications network, they could use it to send malware or fraudulent messages to millions of people.
Work With CMIT Solutions of Richardson
Handling cyber security risks in your industry may seem overwhelming. The good news, however, is that working with a professional can streamline this process.
With CMIT Solutions of Richardson, you will be able to ensure that cyber security risks at your business are handled. From accounting and legal to healthcare and hospitality, we have experience with a wide variety of industries with their own unique needs and goals.
Want to learn more about what we have to offer? Get in touch with CMIT Solutions of Richardson today and see how our cyber security services can help.
