Home / / Government and finance are top targets for cyberattack

Government and finance are top targets for cyberattack

Research shows government and financial sector became main targets of cyberattack in 2016

Government and finance are top targets for cyberattack
Government and the financial sector were the top target for cyberattack in 2016.

Cyberattacks on government organisations doubled in number last year, according to Dimension Data's Global Threat Intelligence Report.

The latest edition of the report shows attacks against government went from 7% of total cyberattacks in 2015, to 14% in 2016. The public sector and finance sectors are now the most popular areas of cyberattacks, as attacks against finance grew from 3% to 14%.

The report is compiled by data collected from the networks of over 10,000 organisations who are customers of NTT Security, the parent company of Dimension Data.

Analysis of over 3.5 trillion security logs showed that manufacturing is the next most attacked sector, accounting for 13% of attacks, with retail the fourth most targeted sector (11%).

Dimension Data noted that several factors could account for the increase in attacks. These include the US presidential election campaign; tension between the US, and China and North Korea; China adopting a more aggressive policy stance in securing its vital ‘core interests'; US and European Union-led economic sanctions against Russia; Russian state-sponsored actors continuing cyber operations against Western targets and growing negative sentiment in the Middle East against the West's aggression towards Syria.

Matthew Gyde, Dimension Data's Group Executive - Security said: "Governments all over the world are constantly under the threat of sophisticated attacks launched by rival nation-states, terrorist groups, hacktivists, and cyber criminals. That's because government agencies hold vast amounts of sensitive information - from personnel records, budgetary data, and sensitive communications, to intelligence findings. What's interesting is that this year we saw numerous incidents involving insider threats

In the EMEA region, the most common targets for attack were finance (20%), manufacturing (17%), and retail (17%). The most common types of attacks targeting EMEA were website application (19%), suspicious (16%), application-specific (15%), and denial-of-service/distributed-denial-of-service (9%) attacks.

Follow us to get the most comprehensive IT Security news delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.