The Rise of Ransomware as a
Service (RaaS) and Its Impact on
Business Security
The Rise of Ransomware as a Service
(RaaS) and Its Impact on Business Security
Ransomware as a Service is also known as "Hacker Helping Other Hackers To
Hack Into Your System". Quite catchy, right?
Ransomware as a Service starts with a professional cyber criminal who creates
ransomware tools and sells it to the amateur ones. And just like we pay for our
Netflix subscription, they also pay for a subscription model to get the Ransomware
Tools because they don't have enough technical expertise to develop their own.
Ransomware as a Service severely lowers the bar to a point that entry to
cybercrimes are very easy.
But First ... How Does Ransomware Work?
The attacker finds a way to get into your network, then finally your system. This
can happen via Phishing, Brute Force attacks, anything. The attacker then
searches for important sensitive files and encrypts. In some cases, the attacker
can encrypt your entire system. So the next time you log-in, you can't access your
data (or your system) without a decryption key.
A note is displayed asking for the sum (usually in Bitcoin) after which they decrypt
your device / files. Or in most cases, they just grab the Lollipop and run.
How Businesses Are Affected By Ransomware as a
Service?
The Canva Of Cyber Activities
If Ransomware tools are easily available, even the amateur attackers can pose
The Rise of Ransomware as a Service (RaaS) and Its Impact on Business Security 1
a serious threats. It also gives space to the non-technical criminals to launch
sophisticated attacks. It's like the Canva of Cyber Activities.
Everyone Is A Target Now:
Forget the big organizations. SMBs - who were not in the Radar of Cyber
Attacks - are now facing constant cyber dangers. This is what happens when
amateurs come to the battlefield. They shoot everywhere.
Double Extortion Tactics:
Ever since RaaS has come to the market, the cyber landscape is seeing a new
kind of tactic known as Double Extortion where the cyber criminal not only
demands money to decrypt the stolen data, but also threatens the business to
release the sensitive information unless ransom is paid.
Customized Attacks:
RaaS allows attackers to customize their attacks for every target based on
their type of vulnerability.
What Happens When The Ransom Isn't Paid?
Cyber criminals who steal data have another way to make money if you decide not
to pay the ransom. They filter your data, and sell the sensitive information like
personal data, financial records, etc to the Dark Web. The highest bidder
purchases the data and they make a profit even if you don't pay the ransom by the
deadline.
Understanding the RaaS Market Place
RaaS marketplace is an illegal platform where attackers can purchase RaaS
tools.
Attacker can find a range of tools for specific industries like Finance or
Technologies.
They operate like a regular business where they provide frequent updates,
customer support and help the attackers set it up.
They have a revenue sharing model. The attacker who uses the RaaS tool get
60-80% of the ransom whereas the creator of the tool gets the rest cut.
The Rise of Ransomware as a Service (RaaS) and Its Impact on Business Security 2
These market places offer "guaranteed success" packages where the
provider promises the RaaS tool will 100% encrypt the files for ransom. If it
fails, they will offer free upgrades to other cyber crime tools.
Conclusion
Ransomware as a Service (RaaS) came to the market around 2015. In 2014,
cybercrime costs were estimated to be $400 billion globally. In 2015 however, it
increased by 300%.
As RaaS makes more and more sophisticated tools and services, the companies
always needs to be updated with the latest cyber tools. A slight slip-up might
cause an amateur to get into your system and demand a sum of money that they
themselves have never seen in their entire lives.
Let us conclude this article by saying that - if a bunch of non-technical cyber
criminals have the guts to purchase RaaS and terrorize the businesses, why not let
the experts who have been in this domain in more than 15 years handle this for
you?
We not only keep you updated with the latest cyber trends, we offer customized
cyber services and recommend the best strategies to protect your organization.
Don't let the amateurs terrorize you, let the experts protect you.
You can connect with us to discuss further about your needs.
The Rise of Ransomware as a Service (RaaS) and Its Impact on Business Security 3
