Cybersecurity issues are becoming a daily struggle for businesses in a world strife with uncertainty and constant change. The 2020 PWC annual CEO survey found that top executives in North America reported cybersecurity as their top concern.
When you think about cyber attacks and large profile hacking incidents, the mind generally goes towards banks and other financial services firms.
Cybercriminals do not discriminate when it comes to attacking businesses for their benefit. Contrary to popular belief, the financial sector is not the most vulnerable sector when it comes to cyberattacks.
Some industries are more vulnerable than others when it comes to devastating data breaches.
Industries Most Vulnerable to Cyber Attacks
We will discuss some of the most at-risk industries that need to bolster their cybersecurity through employing managed IT providers that can provide them with top-notch security measures.
Healthcare organizations are constantly targeted by cyber attacks each year. This is the most exposed industry that saw data breaches cost an estimated $4 billion in 2019. The problem has less to do with the security measures and more with the value of data in healthcare. The public sector healthcare institutions are the most vulnerable since cybercriminals try to obtain valuable personal data they store.
2. Telecoms and IT
With advancing technology, an increasing number of devices are connected, and the communication sector is going through another revolution with the rollout of 5G. As more devices become a part of networks, high-level hackers will target the emerging vulnerabilities to increase their chances of breaching networks and data in the IT and telecom sectors.
3. Government Agencies
Government agencies also hold a massive trove of valuable and confidential information like social security numbers, fingerprints, and much more. Unfortunately, government databases and servers have vulnerabilities that result in larger amounts of attacks. A hacking group called the Shadow Brokers even managed to breach the NSA in 2016, completely shaking the industry.
4. Small- and Medium-Sized Businesses
While the most high-profile cyberattacks are directed towards large multinational organizations, small- and medium-sized businesses (SMBs) face frequent cyber attacks as well. Many SMB owners assume that their businesses are not likely to face attacks and do not make a concerted effort to boost their cybersecurity. Research from IBM and Ponemon Institute’s The Cost of Insider Threats Global Report 2020 shows that SMBs spend an average of $7.68 million per cyber attack incident. That amount is enough to completely decimate a small business without the capital for damage control.
Addressing the Threat
Cybercriminals are constantly working on developing new techniques to exploit vulnerabilities that expose businesses to data breaches. It is essential for businesses in every industry to bolster their cybersecurity measures.
Partnering with the right managed IT provider can help your business get the necessary cybersecurity infrastructure, training, security protocols, and other preventive measures you need.
At Vitreous IT, we provide you a wide range of managed IT services and solutions, including top-notch cybersecurity. We stay ahead of the curve when it comes to cybersecurity innovations to offer our partners the best protection from cybercriminals that can hinder your company’s success.
If you want to learn more about how we can help, feel free to get in touch with us today.