Financial Services Overtakes Healthcare as Most Breached Industry in 2024, Research Shows

Analysis of Identity Theft Resource Center data shows financial services became the most attacked sector in 2024, overtaking healthcare.

Nov. 24, 2025

3 min read

New research from Alta Technologies reports that the financial services industry experienced the highest number of data compromises in 2024, surpassing healthcare for the first time since 2018. The findings are based on an analysis of Identity Theft Resource Center data.

According to the research, the financial services sector recorded 737 data compromises in 2024. The category, which includes roles such as accountants, bankers, and financial analysts, also saw 48 million victim notices issued. A large portion of the increase stemmed from attacks targeting commercial banking and insurance organizations. Commercial banking accounted for 336 compromises, while insurance entities experienced 148.

Industries face escalation

Healthcare recorded 536 data compromises in 2024, affecting about 47 million individuals. Although the sector remained a major target, the total marked a significant drop from 2023, when 811 compromises resulted in 60 million victim notices.

Professional services ranked third with 345 breaches in 2024. The sector, which includes lawyers, software developers, and architects, sent 3 million victim notices. This represents an increase from 310 breaches in 2023 and 223 in 2022.

Manufacturing followed with 317 compromises and 51 million victim notices. The category, which includes assemblers and fabricators, food processing operators, and medical appliance technicians, rose sharply from 258 breaches in 2023.

Education recorded 162 compromises and 3 million victim notices. Although down slightly from 173 breaches in 2023, the research shows the sector remains highly targeted.

Nonprofits experienced 146 data compromises affecting 2 million individuals. The technology sector followed with 142 compromises but had one of the highest impact totals at 326 million affected individuals. Government organizations recorded 128 breaches and issued 12 million victim notices, marking a rise from 99 in 2023.

Mining and construction ranked ninth with 104 compromises and 226 million victim notices. Retail reported 96 breaches, down from 118 in 2023, but still affected 71 million individuals.

Other industries identified as high-risk include transportation, hospitality, and utilities. The hospitality sector had the largest number of impacted individuals across all categories, with 565 million people affected by 69 breaches.

Sectors with minimal activity included the military, which reported no data breaches, social services with 18 compromises, and HR and staffing with 23.

The top 10 industries by number of data compromises in 2024, with financial services leading all sectors and technology, mining/construction, and retail generating some of the highest victim counts.

Across all sectors, there were 3,158 data compromises in 2024, only 44 fewer than the 2023 record. The incidents generated more than 1.35 billion victim notices. Cyberattacks were the primary cause, followed by system and human errors, physical attacks, and supply chain incidents.

Alta Technologies President Corey Donovan said the findings highlight the rising volume of attacks across multiple industries and the growing exposure of financial services, adding, “Staff should remain vigilant at all times to prevent cyberattacks, such as flagging any suspicious attachments in emails and employing multi-factor authentication for any sensitive information.”