What is ransomware as a service? You’re likely familiar with software as a service (SaaS) but ransomware? What does that mean?
First, let’s do a quick recap of what ransomware is. It is a type of malware that holds the victim’s files and folders for ransom. Through human error, the malware is deployed and encrypts network data, with a safe return being promised once the ransom is paid. And with payments usually made through cryptocurrency, traceability is eliminated.
The ransomware as a service business model was developed for criminal purposes, with the product or service being purchased for illegal activity. Ransomware requires little effort with potentially big payouts.
However, while ransomware is easy to deploy, it isn’t always easy to create. And that’s where RaaS comes into the equation. Developers can create the malware once and sell it to multiple cybercriminals. Those crime organizations can then deploy it to a large number of users at once. And a resulting ransom can come from a single human error.
There’s a huge return on investment for all involved, with seemingly little effort. The business model is structured like many legitimate businesses you’re familiar with. On the darkweb you’ll find RaaS purchase options in monthly subscription, one time payment, or even profit sharing options that come from successful attacks. And there are even combination offerings of these options. Hackers and cybercriminal operations are highly sophisticated businesses. Those of us in the IT support business cannot overlook that as we build our efforts to counteract their methods of attack.
If you are an MSP that wants to help your clients to combat the cybercriminal behaviors, contact us today. Breach Secure Now has multiple solutions for you to build into your cybersecurity stack offering. With ongoing training programs and built in solutions like Catch Phish we provide multiple levels of defense. We know that cybercrime tactics will continue to evolve. But our efforts to help you to educate your clients and build human firewalls against those tactics are always evolving as well. Become a partner today!