RaaS, ‘Ransomware As a Service’ | Cybercrime Rising

Just a few years ago you may not have even heard the term ransomware. Today the word is littered throughout just about every IT message, preaching the importance of cybersecurity. It’s true. Cybercrime is certainly on the rise, and more and more criminals are joining the party. According to Sophos Research, over 50% of organizations were struck by ransomware last year. With the attraction of high payouts, it’s not surprising to see a rise in RaaS, or Ransomware as a service, on the dark web.

What is Ransomware?

Essentially Ransomware is software that gets downloaded into a device or network that completely blocks out any access to systems and files. As a result, victims of ransomware are forced to pay incredible amounts of money to regain access to the valuable files, without the guarantee of getting access at all.

Ransomware attackers don’t care who they’re targeting. Organizations of all shapes and sizes find themselves at the wrong end of cyberattack. The attacks are brutal, and can put a permanent damper on your company. Now, even low level cybercriminals can get involved in ransomware, as ready made solutions called “Ransomware as a Service” (RaaS) are becoming more and more easy to get on the Dark Web.

SophosLabs researched an RaaS product that was so sophisticated it enables even the least tech-savvy person to perform a cyberattack. As the recognition around the world has grown to see possible malicious activity in emails, so has the complexity of the methods of ransomware. Some RaaS products are using built in tools or even no executable malware at all to avoid detection.

Ransomware attacks cost organizations an average of $133,000 last year.

It’s so important to ensure that your company’s data and network are protected from cybercrime. There are vital steps that need to be taken by everyone, from the top CEO to the new janitor, to help prevent attack. You should always turn to an expert in IT who can help augment your IT team to be able to backup data and have the knowledge and experience to recover information lost in a cyberattack or ransomware.

For more information on cybersecurity or Ransomware, give SITI a call today, or reach out via our contact form.