Ransomware as a service

May 31, 2022 - 2 minutes read

Have you heard the term “ransomware as a service” and do you know what it means? Ransomware as a service is just that, ransomware cybercriminals can purchase and use to attack their desired targets. This allows a cybercriminal to use a sophisticated attack and allows them to not need to be an expert themselves. 

What is ransomware

Ransomware is still one of the most used malwares cybercriminals deploy and according to Verizon, ransomware is present around 70% of the time in a data breach. It has changed over time, now not just locking and encrypting your files, the cybercriminals threaten to release all of your files online. This new threat makes it all the more important to take ransomware seriously! Fortunately, combating ransomware starts with raising awareness and educating on it!

An old foe

There are countless flavors of ransomware and one of the most well known to the security industry is Conti ransomware. They recently pledged to back Russia in any upcoming cyber retaliations. One of the interesting differentiators between Conti and other ransomware as a service solutions is they are suggested to pay a monthly wage to their developers.

Hackers are no longer in basements or wear black hoodies. Those days have long gone. We are now in an era of the corporate cybercriminal. Conti is a great example of this. Conti continues to show the growth of cybercriminals and cybercriminal enterprises. These are well funded organizations with identified goals and strategy.

What this means

It means small businesses need to take cybersecurity as a serious matter to their business and need to plan for it. It is important to budget in cybersecurity tools, remediation costs, and regular cyber health check ups. Cybersecurity needs to become business culture, your business culture!

For more information on ransomware and other cyber threats to your small business, check out Small Business, Big Threat!

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