Healthcare, the costliest sector for cyberattacks – report
According to a cybersecurity assessment, the Asia Pacific healthcare sector is seeing an alarming increase in cyberattacks globally, indicating the critical need to give cybersecurity top priority.
The Asia-Pacific region is experiencing a surge in ransomware attacks on its healthcare institutions. In Australia, the healthcare sector continues to be hit hardest by cyber incidents with a staggering 22% of all data breaches from July to December 2023 reported within this sector. In contrast, the financial services sector reported only 10% of the total data breaches. The severity of the threat in region is further highlighted by a local Singapore healthcare IT provider, which revealed that it intercepts and blocks 3,000 malicious emails daily, and experiences 1.7 million attempts to breach its internet-facing firewalls every month.
KnowBe4, the provider of the world’s largest security awareness training and simulated phishing platform, released its international healthcare report titled “Hacked Healthcare: A Global Crisis in Cybersecurity.” This report takes a closer look at the cybersecurity crisis currently affecting the healthcare sector, particularly hospital groups, worldwide.
Stu Sjouwerman, CEO of KnowBe4, cautions that the healthcare sector in Asia Pacific is a prime target for cybercriminals due to its reliance on technology and vulnerable patient data. While emerging health technologies and AI can improve healthcare, rapid tech adoption brings cyber risks. Hospitals often feel forced to pay ransoms when critical systems are compromised. Sjouwerman suggests that prioritizing security awareness training can break this cycle by empowering employees and fostering a strong defense against cyber threats.
Healthcare, pharmaceutical sectors under cyber threat
Hospitals have become increasingly attractive targets for ransomware attacks due to their comprehensive patient databases, sensitive information, and interconnected systems and equipment. Poor security measures further exacerbate their vulnerability to cyber threats. When attacked, cybercriminals can potentially take control of entire hospital systems, gaining access not only to patients’ health information but also to their financial and insurance data.
Cyberattacks severely impact hospitals, leading to reduced patient care, loss of access to electronic systems, and reliance on incomplete paper records. This can result in the cancellation of surgeries, tests, and appointments, and in some cases, even the loss of life.
According to KnowBe4’s 2024 Phishing by Industry Benchmarking Report, healthcare and pharmaceutical organisations are among the most vulnerable to phishing attacks, with employees in large organisations in the sector having a 51.4% likelihood of falling victim to a phishing email. This means that cybercriminals have a better than 50/50 chance of successfully phishing an employee in the sector.
The report stated that the healthcare sector has seen a dramatic surge in cyberattack costs over the past three years, with the average cost of a breach reaching nearly US$11 million, more than three times the global average. This makes healthcare the costliest sector for cyberattacks.
‘The report also highlighted that ransomware attacks have been the most prevalent type of cyberattack on healthcare organisations, accounting for over 70% of successful attacks in the past two years. It also found that the majority of cyberattacks (between 79% and 91%), across sectors, begin with phishing or social engineering tactics, which allow cybercriminals to gain access to accounts or servers.
The report examines the state of cybersecurity in the healthcare sector in North America, Europe, the UK, Asia-Pacific, Africa, and Latin America. In addition, it also highlights some of the most prolific global ransomware attacks that occurred between December 2023 and May 2024, the aftermath thereof and what healthcare organisations can do to protect themselves from cyberattacks. (Press Release)
Category: Health alert
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