By learning how cybercriminals select their targets and execute attacks, you can take proactive steps to prevent data breaches in your company.
To provide deeper insights into attackers’ strategies, we partnered with NordStellar to analyze nearly 2,000 data breach incidents reported between August 31, 2022, and September 1, 2024. Our findings shed light on which industries and businesses are most at risk, offering actionable guidance for strengthening your cybersecurity defenses.
Key Highlights from the Report
Top Targeted Industries
Retail, tech, and business services were the most frequently attacked industries.Private Companies at Higher Risk
85% of all breached organizations were private companies.Small and Medium-Sized Businesses Are Vulnerable
72% of the targeted companies had fewer than 200 employees.Global Hotspots for Breaches
The United States, India, and the United Kingdom reported the highest number of incidents.
A Closer Look at the Findings
The 3 Most Targeted Industries: Retail, Tech, and Business Services
While no sector is immune, certain industries are disproportionately targeted. Retail, tech, and business services top the list, but other industries like education, finance, and IT services also face significant threats.
Here’s the breakdown of the top 10 industries affected:
- Retail: 95 incidents
- Tech: 56 incidents
- Business services: 51 incidents
- Internet and web services: 36 incidents
- IT services and consulting: 35 incidents
- Entertainment: 34 incidents
- Education: 28 incidents
- Finance: 27 incidents
- Software development: 26 incidents
- Computer hardware development: 22 incidents
Private Companies Represent 85% of Breached Organizations
Our data indicates that private companies are disproportionately affected, with approximately 1,600 of the analyzed incidents involving privately held businesses. However, public companies and non-profits are far from immune and should remain vigilant.
Small and Medium-Sized Businesses: 72% of Targets
Companies with fewer than 200 employees accounted for the majority of breaches. Smaller organizations often lack the robust cybersecurity measures that larger enterprises employ, making them attractive targets for attackers.
That said, larger businesses aren’t off the hook; when they are breached, the financial and reputational fallout tends to be far greater.
Geographical Insights: The United States Leads in Breaches
The U.S. experienced the highest number of breaches—more than four times that of India, the second-most affected country. The top 10 countries with the most breaches include:
- United States: 489 incidents
- India: 114 incidents
- United Kingdom: 73 incidents
- Spain: 43 incidents
- France: 39 incidents
- Canada: 37 incidents
- Brazil: 26 incidents
- Russia: 26 incidents
- Indonesia: 23 incidents
- Australia: 20 incidents
The True Cost of a Data Breach
Data breaches are not just expensive—averaging nearly $5 million per incident according to IBM—but they also damage trust. Clients may lose confidence in a company’s ability to safeguard their data, which can lead to lasting reputational harm.
Protecting Your Business from Data Breaches
Awareness Is the First Step
Understanding the risks and spreading awareness across your organization is critical. Educate your team on potential threats to enhance overall vigilance.
Invest in Robust Cybersecurity Tools
Awareness alone isn’t sufficient to protect your business. Implementing advanced cybersecurity solutions can make a significant impact.
Key features to consider include:
- Dark Web Monitoring: Regularly scans the dark web for any mentions of your company’s data.
- Access Management Tools: Restrict access to sensitive resources, ensuring only authorized personnel can gain entry.
- Encrypted Password Management: Safeguards login credentials to minimize vulnerabilities and enhance overall security.
Research Methodology
This study, conducted in partnership with NordStellar, analyzed cybersecurity incidents across industries, countries, company types, and sizes. The research focuses on breaches reported between August 31, 2022, and September 1, 2024, offering a comprehensive view of current threats and trends.
Stay ahead of cybercriminals by understanding their tactics and equipping your business with the tools needed to combat them effectively.
Citation: https://nordpass.com/blog/data-breach-report-2024/
Data Breach Trends Report 2024 | NordPass | NordPass
