Government and Financial Institutions Most Vulnerable to Cyberattacks

Government and Financial Institutions Most Vulnerable to Cyberattacks

August 7, 2017         Written By Lynn Oldshue

The government and financial services are the entities most vulnerable to cyberattacks, according to recent research from Netsparker. In fact, 61% of the developers surveyed believe the government is vulnerable to hacking, and 50% feel the financial sector is at-risk. These two industries were followed by media (44%), communications (32%), healthcare (31%), gaming (29%) and energy (25%).

When it comes to government hacks, developers believe democratic governments are at-risk because political parties lack IT/security expertise (57%) and polling equipment is outdated and potentially insecure (54%). To prevent future government and polling machine hacks, the developers feel the government should:

  • Increase background checks on volunteers and staff members (52%)
  • Hire security specialists (47%)
  • Allocate money to cybersecurity (45%)
  • Provide secure systems to political parties (40%)

The developers feel governments and private sector entities alike should learn from the past. Nearly half (47%) believe the Russian hacking of the Democratic National Committee was the most teachable cybersecurity moment in the past two years, followed by WannaCry (32%), the CIA security breach (30%), Chipotle (25%) and OneLogin (23%).

“Because of recent election-related events, it’s not surprising that developers and IT professionals have so little confidence in the ability of governments to prevent hacking. But the reality is that all organizations and enterprises should take precautions to prevent data breaches,” said Netsparker CEO Ferruh Mavituna.

Netsparker’s study also found the majority of developers (52%) believe smart home IoT devices are the most vulnerable technology. IoT devices are followed by smart TVs (42%), web apps and online services (41%), Internet-connected cars (35%) and ATMs (34%).

The information contained within this article was accurate as of August 7, 2017. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

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lynn-oldshue

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.