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Even for small businesses, cybercrime is a very real threat. With generative AI-powered cyberattacks on the rise and threats growing more sophisticated every year1, it’s crucial that businesses take steps to protect themselves against cybercriminals.
Want to stay ahead of cyber threats? The Everywhen team has put together this guide to break down the different types of cyber risk.
A cyberattack is when a hacker tries to gain unauthorised access to a digital system, often to steal data or demand payment. The impact often goes far beyond the initial breach. Businesses may face disruption to operations, financial loss, data theft, reputational harm and exposure of sensitive client or customer information.
At Everywhen, we believe in proactive protection. Understanding these risks is the first step toward building resilience and keeping your business secure every day.
Cyber threats can feel complex, but understanding the basics can help you to protect your business. Cyber insurance should be a key part of your commercial cover, and here’s why.
There are four main types of cyber threat: phishing, social engineering, malware and ransomware. Let’s look at these in more detail.
Phishing usually arrives as an email or text, designed to look like it’s from a trusted source, like IT services or a courier. These messages often feel urgent and push you to act quickly, typically by clicking a link to a fake website that tries to steal sensitive details like usernames or passwords. Some may even prompt you to download a document that contains malware.
You can often spot a phishing attempt by its rushed tone, poor spelling or grammar, and basic formatting. Even if the sender’s name looks familiar, you can check who it’s really from by clicking on the name to reveal the full email address. If something feels off, cross-check the message against the official website.
Social engineering is one of the most effective and damaging cyber threats today, and it’s often hard to spot. These attacks rely on human interaction, using manipulation to trick people into sharing sensitive information like passwords or bank details. Cybercriminals may pose as a senior colleague or trusted company contact, using a familiar tone and creating a sense of urgency to push you into acting quickly, whether that’s clicking a link, resetting a password or transferring money.
Unlike broad phishing attempts, social engineering can be more targeted. An attacker might build trust over several interactions before asking for information, making the scam harder to detect. If something doesn’t feel right, take a moment to check. Use a separate channel to confirm the request or go straight to the source.
Malware – short for ‘malicious software’ – is designed to steal information or damage digital systems. While basic viruses are still a threat, malware has evolved to perform a range of harmful tasks. Here are some common types:
Viruses: These self-replicating programmes insert their code into other files, corrupting them and spreading across devices when infected files are shared.
Worms: Worms spread across networks without needing to attach to files. They can cause disruption by flooding systems with traffic, sometimes leading to denial-of-service (DoS) attacks.
Trojans: Named after the Trojan Horse, these appear to be legitimate programmes but carry hidden malware. They’re often used to give attackers unauthorised access, track activity, or deploy ransomware and spyware.
Spyware: This software secretly records information like keystrokes, browser history and login details. It can be used for fraud or sold on to others.
Bots: Bots are automated programmes that can be used for good, like customer service – or harm. Malicious bots can steal data, support ransomware, or overwhelm systems with traffic, causing websites to crash.
Ransomware is a type of malware that blocks access to files until a payment is made. It’s popular with cybercriminals because it’s low risk but high reward.
One example is jigsaw ransomware, which encrypts every file on a device and then begins deleting them hour by hour until the ransom is paid. The longer the delay, the more files are lost.
Even if you take all the possible steps to safeguard your business from cyber-attacks, sometimes that just isn’t enough. Even with the best security and training, you can still be targeted, so it’s important to have cyber insurance.
To find out more, give us a call on 0330 029 5626 or visit our dedicated cyber insurance page.
Cyberattack that scrambled the company's servers, forcing the team to take down its online system.
It's important to make sure office staff are regularly trained on cyber safety.
The cyber threat landscape is rapidly evolving. It is becoming increasingly sophisticated, impacting individuals and businesses alike.
