Manufacturing was the most impacted sector in 2024: Arete’s Annual Crimeware Report

• 26 Mar 2025
• TM Team
• 0 Comments

Arete‘s 2024 Annual Crimeware Report reveals key cybercrime trends, identifying manufacturing as the most targeted sector in 2024. This complete report highlights shifts in ransomware, extortion tactics, ransom demands, and industries most affected by cyber threats.

The manufacturing industry was the hardest hit by ransomware and extortion attacks, followed by professional, scientific, and technical services. Together, these two sectors accounted for more than 40 per cent of all cybercrime victims in 2024.

Other sectors, including construction, finance, and healthcare, also experienced significant impacts. Most of these attacks were opportunistic rather than targeted, with cybercriminals attacking industries based on vulnerability rather than intent.

In 2024, the percentage of victims paying ransom dropped to 29 per cent, down from 32 per cent in 2023, indicating that companies are improving their cybersecurity and recovery capabilities.

However, the trend is stabilizing, with ransom payments showing less dramatic decreases compared to previous years. Despite fewer payments, the median ransom demand remained steady at $500,000, consistent with the previous year.

As attacks remain opportunistic, organisations are increasingly using EDR (Endpoint Detection and Response) and multi-factor authentication (MFA) to strengthen defences.

These measures have contributed to fewer successful ransom payments. Arete continues to track these evolving cyber threats, aiming to protect clients with cutting-edge counter-extortion solutions.

Hence, with this report, Arete offers valuable insights that inform businesses and partners, enhancing preparedness and resilience against cyber extortion.