The Top 4 Industries at Risk for Cyber Attacks and How Security Automation Can Help

Introduction

Cybersecurity is a topic of increasing sophistication and frequency for organizations across a range of different industries. Every industry has unique challenges and threats that require customized cybersecurity frameworks to protect data and maintain operational continuity. 

Recently, we reviewed the top eight most popular cybersecurity frameworks and discussed which frameworks are relevant to which industries. In this article, we will explore the top four industries most prone to cyberattacks and examine how security automation can mitigate these risks.

1. Healthcare

The healthcare industry is a prime target for cyberattacks. To illustrate this particular complexity, in the UK the National Health Service (NHS) is an excellent example. It is not one NHS system but a network of subsystems within counties with their own infrastructure, services, and websites. 

To give you a specific example, root domains like manchester.nhs.uk and bristol.nhs.uk are regions that have many subdomains, web servers, and internet services. For a cybercriminal, this vast attack surface means many entry points for potential breaches.

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The data that healthcare systems hold makes them attractive targets. Patient records are extremely sensitive information which may be abused for blackmail or extortion, or sold on the dark web. Additionally, the healthcare industry's reliance on digital equipment connected to the internet makes it more vulnerable. Cyberattacks - especially ransomware - have been linked with patient deaths.

In 2024, the healthcare sector reported 280 cyber incidents - 24% of all cyber events in the US - the most targeted industry. The Health Insurance Portability and Accountability Act (HIPAA) is a key framework in this sector, ensuring the protection of patient data. However, given the scale and value of the data involved, healthcare organizations must continually develop their cybersecurity strategies.

2. Government

Government systems are another target for cybercriminals because of the large attack surface and high stakes of state-level espionage and disruption. Like the healthcare industry, government systems contain numerous departments and agencies, each one with its own infrastructure and security standards. 

Then there is the sheer number of employees across different government organizations. In the US, state and local governments in 2022 employed about 19.23 million people. This large workforce makes phishing and other social engineering attacks attractive.

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The scale of government systems also means they are frequent targets for bug bounty programs and responsible disclosure initiatives. For example, the US Department of Defense’s bug bounty program received 1,633 vulnerability submissions in just 90 days, highlighting the immense challenge of securing such a vast and complex infrastructure. Government entities must follow strict security protocols under the Federal Information Security Management Act (FISMA).

Government and military sectors ranked in the top three most attacked industries worldwide in the second quarter of 2024, averaging 2,084 attacks per week. This shows how important cybersecurity measures are in these sectors.

3. Education

Cyberattacks are increasingly targeting the education sector—universities and research institutions in particular. These entities hold mountains of data—research and intellectual property of the very highest quality—that are of prime interest to foreign governments and state-sponsored attackers. MI5 warned British universities that foreign states could be exploiting research data in April 2024.

In the education sector, on average, 3,086 organizations were attacked per week—up 37% from 2023. The variety of data that educational institutions handle makes the NIST framework an ideal security solution.

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Something particularly interesting to note about the education system as a whole is that attacks will often increase and decrease based on the current time of year that we’re in. 

At the time of writing this article, it’s August 2024, and educational facilities are planning to return to regular activity, so it’s probable that we will soon see an uptick in attacks taking place because everyone will begin to become active again.

4. Finance

This is one of the most difficult sectors to breach due to the strong security measures in place within finance. But it also means cybercriminals could find it a lucrative target due to the potential financial reward. An example is the 2016 robbery of nearly USD 1 billion from Bangladesh's central bank. The attempt was unsuccessful but highlighted the stakes of financial sector cyberattacks.

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Financial institutions are more prone to sophisticated attacks than some other industries. Their information - from customer data to transaction records - is valuable and therefore targets for financially motivated cybercriminals. 

The two most common frameworks used in the financial sector are the International Organization for Standardization (ISO) 27001 and the Payment Card Industry Data Security Standard (PCI DSS). According to a 2022 report, the financial industry experienced the second-highest number of reported data breaches among all sectors. 

Specifically, the report stated that 566 incidents impacted financial institutions worldwide, resulting in over 254 million leaked records. Countries like the United States, Argentina, Brazil, and China experienced significant breach activity affecting their financial institutions.

How Security Automation Can Help

With the volume and sophistication of these industries' cyberattacks, simple manual cybersecurity steps are clearly not enough. Human teams—however skilled—can get easily overwhelmed by the sheer volume of threats they face on a daily basis. Here security automation comes in useful.

Security automation platforms, including SOAR (security orchestration, automation, and response), SIEM (security information and event management), and XDR (enhanced detection and response), complement human efforts. These platforms can handle large attacks, shorten response times, and detect anomalies pointing to a breach.

Artificial intelligence and machine learning have recently improved security automation. For example, generative AI solutions can analyze system behavior for abnormal activity and flag zero-day exploits. Gartner declared SOAR obsolete but in reality, security automation platforms evolved to fulfill the initial promises that SOAR failed to deliver on.

Work With Blink Ops Next

Platforms like Blink Ops provide thousands of prebuilt workflows that can be plugged into existing security operations for organizations that are not sure where to start with security automation. Such solutions are like a security automation copilot that lightens the load on cybersecurity teams and ensures threats are addressed quickly and effectively. Click the link to get started now.

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