According to the Cyber security breaches survey 2024, by the Office of National Statistics, “The proportion of businesses seeking external information or guidance on cyber security has fallen since 2023”, that is despite, “Half of businesses (50%) and around a third of charities (32%)” , reporting on experiencing some type of cyber security breach or attack, within the last 12 months.
For businesses, understanding the types of cyber-attacks which could impact their company and improving prevention through enhancing cyber security is imperative. To understand cyber attacks in more detail, here are some main examples:
Building Cyber Awareness – Types of Cyber Attacks
- Social Engineering: Carried out via email or SMS messaging, attackers pretend to be other members of staff or from other teams and trick employees into revealing confidential information.
- Phishing Attacks: Mainly found via emails, phishing methods will trick email users into clicking on a link or into an email which is posing as a reputable company. From there they will try to obtain personal details, such as payment information.
- Malware: This malicious software known as Virus’s, Worms or Trojans is designed to disrupt devices and take down IT programmes. They gain access to devices via email attachments and unsecure websites.
- Ransomware: This method infiltrates devices by using malware and then attackers will demand payments to unlock the Ransomware. The impact can create severe downtime, affecting financial loss and damage to a business’s reputation, as devices can’t be used or accessed.
- Man-in-the-middle (MITM) Attacks: This type of attack occurs when information between two parties is intercepted and altered by an attacker. Often carried out via unsecure Wifi hotspots and websites posing to be authentic.
- Insider Threats – Carried out by trusted employees and contractors within a business when a system is misused, or accidental cyber risks are made. This form of cyber-attack is one of the most common types of cyber threat and can lead to extensive data breaches.
- DOS Attacks: A wide scale attack which uses many machines to carry out the process. Often overloading or bringing down entire systems.
JRW Risk Solutions is here to ensure UK businesses have the correct cyber protection in place to reduce the risk of a cyber security breach. We recommend that all companies should under-go a cyber security risk assessment to understand any loopholes which will need plugging and to train employees on the risks of cyber security. To find out more about cyber security assessments and cyber risk insurance through our commercial insurance offers, please get in touch.