Most Targeted Sectors By Cybercriminals

Information Technology, Education, and Research are the leading sectors most prone to cyber-attacks this year. The conclusion is contained in the recently released 2024 Digital Defense Report by Microsoft which highlights an alarming rise in attacks across the globe.

The report reveals the number of global cyber-attacks has doubled to 600 million per day, which reveals the growing collaboration between nation-state actors and cybercriminals.  Data breaches have also been rampant, with TechCrunch reporting over 1 billion stolen records in 2024 alone. These breaches have not only compromised personal information but have also emboldened criminals who profit from cyberattacks.

“In 2024, Education and Research became the second most targeted sector by nation-state threat actors. In addition to offering intelligence such as research and policy discussions, education and research institutions are often used as testing grounds by threat actors before they pursue their actual targets,” the report reads in part.

According to the report, other sectors most prone to attacks include Think Tanks and NGOs, Transportation, Consumer Retail, Finance, Manufacturing, and Communications.

In Africa, the African Cyberthreat Assessment Report 2024 by Interpol highlights the rapid growth of cybercrime, with estimates showing that in 2023, there was a 23% year-on-year increase in the average number of weekly cyberattacks per organization in Africa, the highest average in the world.

Recent cyber threats have markedly increased in sophistication and frequency, posing significant challenges to cybersecurity defenses worldwide. A notable trend is the surge in mobile, Internet of Things (IoT), and operational technology (OT) cyberattacks, which underscores the expanding threat landscape beyond traditional computing environments.

“The cyber threat landscape has continued to become more dangerous and complex. The malign actors of the world are becoming better resourced and better prepared, with increasingly sophisticated tactics, techniques, and tools that challenge even the world’s best cybersecurity defenders. As the threats evolve, so must the strategies to combat them, requiring a concerted effort from individuals, organizations, and governments alike,” the Digital Defence Report recommends.

The report observes that cybercriminals are increasingly utilizing AI to launch more sophisticated attacks, bypass traditional defenses, and automate their malicious activities. This escalation necessitates a continuous evolution of our security strategies to stay ahead of these AI-generated threats, it recommends.