Are you ready to prevent cyber threats in 2025? Due to the amount of cyberattacks in Australia, cybersecurity is has become extremely important.

Companies face new and evolving threats every year, and 2024 has not been any different. From security breaches to ransomware and phishing attempts, these risks are escalating across all industries and affecting both big and small businesses.

The cyberattack statistics of 2024 will help you protect yourself from online threats. They will also show you major trends, financial costs, and specific weaknesses in different sectors. Knowing these insights better will help companies prepare for the challenges that will face them in 2025.

The Growing Need for Cybersecurity Vigilance

As cyber threats become more widespread and complex, staying informed on the latest cybersecurity trends is essential for protecting your organisation. The data from 2024 shows that businesses have an urgent need to rethink their security strategies. Ignoring these risks can be very costly, and can cause great damage to your finances, reputation and stability. As you read through these insights, think about how they can help with better cybersecurity and cyberattack awareness to create a safer, more resilient future.

General Cyber attacks Statistics: An Overview of 2024 Trends

Cybersecurity threats have reached new heights in 2024:

• Global cyberattacks grew by 30% in April, May and June compared with the same period last year, suggesting cybercriminal activity is on the rise. This increase reflects a worrying trend as attackers adapt and refine their tactics. Cybercriminals are especially targeting remote work setups and networks that may not have strong defenses. (Source: Checkpoint Blog)

• Data breaches are also becoming more expensive. The average cost of a data breach to organizations jumped 15% over the last three years to $4.45 million in 2024. This is a rise in the high cost that data breaches exact on organizations, which not only have to pay direct costs but also additional expenses such as legal fees, recovery costs and damage to reputation. (Source: Cobalt)

• On a global scale, cybercrime is expected to cost the world $9.5 trillion this year. This massive amount includes not only direct costs, such as ransom payments, but also indirect impacts, like lost productivity, identity theft, and disruptions to broader economic activity. (Source: Cobalt)

• About 75% of security experts reported an increase in cyberattacks this past year, which is why cybersecurity preparedness is getting renewed focus. The increase has made companies across industries more vigilant. Organisations are increasing security protocols and training employees. (Source: Cobalt)

• In 2022, U.S. cyber insurance premiums skyrocketed 50% as the cyber landscape gets more and more risky. The total premiums were $7.2 billion. More businesses are looking to comprehensive insurance to protect against severe cyberattacks and insurers have raised premiums to cover potential claims. (Source: Cobalt)

• For the 12th year in a row, the U.S. recorded the highest average cost for data breaches, now at $5.09 million. The high cost of this reflects a number of risk factors specific to the region, including a complex regulatory landscape, high value data, and many high profile targets. (Source: Cobalt)

Industry-Specific Cyberattack Statistics

The way cybercriminals target various sectors offers insights into their strategies. Different challenges exist for each sector, including healthcare, manufacturing, finance, education, and government agencies and military facilities.

Healthcare Industry

• The healthcare industry has seen a 239% increase in major data breaches over the last four years. As more patient data goes online, cybercriminals see healthcare as a highly attractive target. (Source: USA Today)

• Healthcare data breaches are very expensive; it costs $10.93 million per breach. This high cost is due to the sensitive nature of medical records and the strict compliance requirements involved. (Source: USA Today)

• The shift to digital health records has exposed healthcare providers to more cyber risks. This pushes many to strengthen data security and compliance measures. (Source: USA Today)

Manufacturing Sector

About one-fifth of all ransomware campaigns are aimed at the manufacturing sector, which is a major issue in cyber extortion. Supply chains and production lines are seen as a very valuable target by cybercriminals. (Source: USA Today)

• Although the overall volume of cyber incidents in manufacturing rose, confirmed attacks fell by 14% compared to 2022. This reduction might be due to improved industry-wide detection and prevention efforts. (Source: USA Today)

• Manufacturing’s dependence on interconnected machinery and operational technology introduces specific vulnerabilities. These systems often leave companies open to targeted ransomware and malware attacks. (Source: USA Today)

Financial Services

• Companies in the financial sector had more sensitive files accessible to employees than any other industry. This highlights the need for stricter access controls to prevent data misuse. (Source: USA Today)

• Finance employees could access on average 20% of documents with sensitive data. That leaves these companies vulnerable to accidental or intentional data breaches. (Source: USA Today)

• Cyberattacks targeting cryptocurrency organizations surged by 600%, which reflects high interest from cybercriminals in the digital currency market. (Source: USA Today)

Education Industry

• Many K-12 schools have become major targets for cybercriminals because they have valuable student data but don’t have the security measures in place. (Source: USA Today)

• In Q2 2024, the education and research sector averaged 3,341 attacks per week, which makes it among the most attacked industries this year. (Source: Checkpoint Blog)

Government and Military Sector

• In the second quarter of 2024, the government and military sector faced an average of 2,084 attacks each week. This highlights the persistent focus of cybercriminals on institutions handling sensitive national data. (Checkpoint Blog)

• Many government and military systems still operate on older infrastructure, so they are more vulnerable to targeted attacks and posing potential risks to national security. (Source: Checkpoint Blog)

Ransomware and Malware: The Costliest Cyber Threats

With ransomware attacks spreading globally, 2024 has brought increased efforts to counter this expensive threat.

• In the past year, 66% of organizations have experienced ransomware attacks. This demonstrates just how widespread this threat is across all industries and how desperately we need strong defenses. (Source: Netgate)

• By 2031, ransomware is projected to cost organisations a massive $265 billion each year, as attacks become even more complex and harmful. (Source: Cobalt)

• Nearly half (47%) of companies now have policies to pay ransoms if they are attacked by hackers. It’s a reflection of the difficult choices organisations must make under pressure. (Source: Cobalt)

• In the first quarter of 2024, 59% of ransomware incidents were reported in North America. This made it the most heavily targeted region as cybercriminals focused their attacks there. (Source: Checkpoint Blog)

• The number of ransomware incidents in Europe rose by 64% in the first quarter of 2024 compared to the same period last year. The geographic spread of ransomware threats is growing, and this rise is evidence of that. (Source: Checkpoint Blog)

• In Q2 2024, the manufacturing sector represented 29% of global ransomware victims. Cybercriminals focus on this sector due to its key role in supply chains. (Source: Checkpoint Blog)

• Ransomware made up 17% of all cyber incidents in 2023, which makes it one of the top cybersecurity concerns worldwide. (Source: Cobalt)

• In 2024, companies reported an average downtime of 24 days after a ransomware attack. This highlights the operational impact beyond just financial losses. (Source: Varonis)

• This year, 57% of organisations reported an increase in malware attacks. Cybercriminals continue to change their methods to get around traditional security measures. (Source: Varonis)

Phishing and Social Engineering: Exploiting Human Vulnerability

Human error remains a key reason cyberattacks succeed, which makes phishing and social engineering particularly effective in 2024. Phishing is a form of cyberattack where the attacker tries to look like a trustworthy source. They could pretend to be a well known company, a colleague, or an official institution. It’s meant to get people to give up sensitive information, like passwords or bank details.

These messages are usually in the form of emails, text messages or fake websites and they usually ask for user names and passwords, account numbers and PINs, or other identifying information.

• Phishing was the top cause of data breaches this year, accounting for 41% of all incidents. Attackers often exploit trust and familiarity to gain access to sensitive data. (Source: Varonis)

• In 2024, a striking 75% of organizations reported at least one phishing attack, showing just how frequent these attempts have become. (Source: Varonis)

• On average, a phishing attack this year cost an organisation $14.8 million. This figure reflects both the immediate damages and the extensive recovery efforts needed to manage the impact. (Source: Varonis)

Emerging Trends and Evolving Threats in Cybersecurity

New threats are continuously impacting cybersecurity as geopolitical tensions contribute to these threats. Supply chain vulnerabilities are also increasing.

• Attempts to hijack ongoing email threads doubled in 2022. Attackers exploit the trust in existing communications and this allows them to spread malware undetected. (Source: Cobalt)

• Among organizations that experienced business email compromise (BEC) attacks, 80% did not have multi-factor authentication (MFA) in place. This highlights the importance of implementing basic security measures like MFA. (Source: Cobalt)

• Data breaches related to remote work cost an additional $173,074 on average. This increase highlights the cybersecurity challenges companies face with flexible work setups. (Source: Cobalt)

• Since the start of the Russia-Ukraine conflict, 97% of organizations reported an increase in cyber threats. This rise shows the global security impact of political instability. (Source: Cobalt)

• About 54% of organizations see third parties and external networks as major weak points. The dependence on interconnected supply chains leaves companies open to indirect attacks. (Source: Cobalt)

• Cybersecurity spending as a percentage of revenue grew by 51%, increasing from 0.53% to 0.80%. Companies are dedicating more resources to defend against the rising threat landscape. (Source: Terra Nova Security)

• Organisations experienced an average of 1,636 cyberattacks per week in Q2 2024, up 30% from the previous year. This rise shows the unrelenting frequency and intensity of modern cyber threats. (Source: Terra Nova Security)

• About 41% of cybercriminal groups now use artificial intelligence in their attack methods. They leverage AI to bypass security systems and expand phishing attacks. (Source: Accenture Novatech)

• AI powered 63% of phishing campaigns in 2024. This helped attackers create more convincing, targeted emails and boosted their success rates. (Source: Proofpoint)

• Reports of deepfake technology in social engineering attacks increased by 400%. Attackers are using AI to impersonate people in high-stakes phishing scams. (Source: McAfee)

• Approximately 64% of small-to-medium businesses (SMBs) now depend on cybersecurity-as-a-service providers to monitor and manage their systems. This trend shows the increasing reliance on outsourced cybersecurity. (Source: Gartner)

• One-third (33%) of cybersecurity experts think quantum computing could break current encryption within the next 5 to 10 years. This has led to a stronger focus on creating encryption that can withstand quantum computing. (Source: Cybersecurity Ventures)

• In 2024, 37% of cybersecurity incidents involved API vulnerabilities. As companies rely more on third-party APIs for integrations, they are increasingly exposed to potential exploitation. (Source: Salt Security)

• Supply chain attacks rose by 78% in 2024. Attackers increasingly target vendors and suppliers to indirectly access larger organisations’ networks. (Source: CrowdStrike)

• Credential stuffing attacks surged by 85% in 2024. Attackers took advantage of weak or reused passwords, especially in sectors with valuable assets like finance and healthcare. (Source: Akamai)

• The use of automated tools for cyberattacks grew by 40%. This enables attackers to launch rapid, large-scale attacks that challenge traditional security defences. (Source: Fortinet)

• Cryptojacking rose by 62%, as attackers took over computing resources to mine cryptocurrency. They primarily targeted industries with significant processing power, such as gaming and finance. (Source: Kaspersky)

• In 2024, zero-day vulnerabilities rose by 35%. Attackers took advantage of undisclosed software weaknesses before developers could patch them. (Source: Mandiant)

• Attacks on IoT devices rose by 55% in 2024. As more organisations rely on IoT to improve operations, attackers are taking advantage of weak security in these devices to access networks. Sectors like healthcare and manufacturing were especially impacted. (Source: Palo Alto Networks)

• The number of Distributed Denial of Service (DDoS) attacks increased by 40% in 2024 and the average attack size increased by 25% year on year. A DDoS attack is one in which a range of compromised computers or devices flood a targeted server, website or network with huge amounts of traffic. eCommerce and financial services were hit the hardest and online services were disrupted. (Source: Cloudflare)

Key Takeaways for 2025

The events of 2024 have shown that cybersecurity demands constant attention. New threats and trends continue to emerge. New threats keep emerging, and attackers are constantly adapting. Companies need to improve IT security, monitor networks closely, and enforce strong protocols like multi-factor authentication.

Recommended Actions for Businesses Moving into 2025

• Businesses are raising cybersecurity budgets at their highest levels with costs and threats. As a result, protecting assets is becoming a top priority, and many organisations are investing more resources to not only adopt new technologies, but also to maintain up to date security infrastructure.
• Phishing and social engineering remain the most common types of attacks. It is therefore important to train employees to identify these threats than ever before. Through simulated phishing tests and regular refresher courses, businesses help employees stay vigilant against new tactics.
• Reducing employee access to sensitive data, especially in sectors like finance, helps lower breach risks. This is done through frequent access reviews and role based access control (RBAC), so that only authorised employees can get at sensitive data. Companies are also adopting monitoring tools to observe data access and detect any signs of misuse early on.
• Defending against ransomware and malware calls for proactive solutions, such as endpoint protection and email filtering. Now, more and more organisations are deploying next generation firewalls and advanced threat detection tools based on behavioural analysis to detect unusual activities. Regularly updating software and managing patches are vital to address known vulnerabilities, while secure backups ensure data recovery if an attack occurs.
• Stronger coverage in high-risk sectors is driving up cyber insurance premiums. Today’s comprehensive insurance packages include legal expenses, public relations services and downtime compensation. The far reaching impact of cyberattacks is reflected in this.

Preparing for Tomorrow

Cybersecurity is no longer just a “nice-to-have.” It is now essential for the survival and success of any modern business. At Empreus IT Support, we understand the unique cybersecurity challenges that organisations face in today’s complex and fast-changing environment. As a leading provider of IT support services, we know that organisations today face unique cybersecurity challenges in a fast changing and complex environment. As threats become more sophisticated every day, it’s more important than ever to be aware, have good defences, and have good, proven strategies.

Our mission at Empreus is to deliver more than just standard cybersecurity support. We work alongside our clients to build robust, adaptable security solutions that scale with their business needs. Empreus is dedicated to helping organisations feel secure and confident in the face of the evolving cyberattack landscape, knowing they have a reliable partner ready to tackle any challenge. By taking action now, we’ll be well-prepared for the cyberattack challenges that 2025 may bring.