RaaS Explained: How Cybercriminals Are Scaling Attacks Like Startups

There is a lot of money in cyberattacks like ransomware, and unfortunately for organizations of all sizes, the cybercrime business is booming.

Ransomware has come a long way since the days of using floppy disks at health conventions to spread malicious files. Now, this previously rare endeavour has become a thriving business in the form of Ransomware-as-a-Service (RaaS), which involves hackers selling ransomware kits to others.

But it’s not all doom and gloom. Businesses are successfully fighting back, with better IT management and incident readiness, which involves proactive approaches to identify vulnerabilities to fix them before attacks happen.

This article defines Ransomware-as-a-Service, why it’s growing, business risks, IT management’s role, and strengthening backups and incident response. By the end, you’ll know how to avoid RaaS attacks, save money, and improve your reputation.

If you work in any role within a business, you will have heard of software as a service (SaaS). Well, Ransomware-as-a-Service (RaaS) is similar to the useful business model in the way it works. The only difference is that hackers use this model for unethical methods, such as charging hackers who don’t have the knowledge but want access to hacking kits to launch malware attacks.

RaaS is more similar to SaaS than you might think: It mirrors every aspect of its much more benign predecessor, including user dashboards, tiered pricing, and even customer support if users run into problems trying to hack enterprises for their financial gain.

The shift from low-skill hackers to RaaS models marks a transformation to a much more advanced, dangerous, and higher likelihood threat with these on-demand tools. But why is the popularity of these tools growing?

RaaS is growing in popularity so now is the time to be aware of it to try to defend your organization against this widespread threat. When we consider why RaaS is undergoing a boom in prevalence we can begin with the fact it presents more profitability for developers and their affiliates.

The malicious parties who create Ransomware as a Service (RaaS) can generate revenue by renting it out to less experienced hackers. These others, called affiliates, use the software to attack computers and share the money they get with the developers in a system which rewards, both sides, so more people want to join and keep it going.

A lower barrier to entry attracts more participants

Unfortunately for global businesses, RaaS is easy to use, even for people who don’t know much about hacking or associated cyberattack software. Some RaaS websites offer step-by-step help, making it simple to start.

Because it requires minimal skills, more people can become amateur yet effective hackers armed with powerful tools, which causes more ransomware attacks to happen around the world.

RaaS users don’t want to be found so they use special internet tools like Tor to stay hidden and use digital money like Bitcoin so no one knows who’s paying or getting paid. This makes it harder for police to track them, so more people feel safe using RaaS, increasing its popularity and the number of attacks.

Big attacks on companies and hospitals have been linked to RaaS. These stories are in the news, and they show how strong and successful RaaS tools can be. When others see how well it works, they want to try it too, which makes RaaS even more popular.

It’s essential to be aware of these reasons for RaaS becoming popular if you want to combat it and defend your company against this relatively new threat.

IT management can be a valuable weapon in defending against cyberattacks that result from RaaS tools. When IT managers have an overview of all their IT systems and can view each piece of equipment individually, it becomes easier to identify and reduce vulnerabilities, strengthening security.

The most effective ways to achieve this process of finding and closing security vulnerabilities include regularly auditing and patching software. Doing so keeps it updated to defend against new threats, and segment networks so that one breach doesn’t mean a total network vulnerability.

Another easy-to-achieve way to accomplish higher security against RaaS is to control who can access devices, enforce security policies, and offer training to emphasize their importance.

Another important part of the security puzzle is endpoint protection, which allows IT teams to monitor, secure, and respond to threats across all the company’s devices in real time. The best way to achieve this is by using your business’s best endpoint management software.

RaaS is a very real threat because it allows low-skill hackers to use powerful software to hack into secure enterprises at scale, with impressive reach and professionalism.

If businesses want to defend against RaaS-driven threats, they need to invest in endpoint security, backup resilience, and IT management tools, and increase employee awareness with robust and regular training.

What is your company’s risk posture? If you have any doubts, evaluate them today before ransomware strikes and you are caught unprepared.