Ransomware as a service is the new big problem for business

Easy-to-use ransomware as a service schemes are booming, accounting for almost two-thirds of ransomware campaigns during the past year, warn researchers.

Ransomware as a service is proving effective for cyber criminals who want a piece of the cyber-extortion action but without necessarily having the skills to develop their own malware, with two out of three attacks using this model.

Ransomware attacks are still proving extremely lucrative, with the most well-organised gangs earning millions per victim, so many cyber criminals want to cash in – but don't have the ability to code and distribute their own campaigns.

That's where ransomware as a service (RaaS) comes in, with developers selling or leasing malware to users on dark web forums. These affiliate schemes provide low-level attackers with the ability to distribute and manage ransomware campaigns, with the developer behind the ransomware receiving a cut of each ransom victim's pay for the decryption key.

Researchers at cybersecurity company Group-IB have detailed that almost two-thirds of ransomware attacks analysed during 2020 came from cyber criminals operating on a RaaS model.

Such is the demand for ransomware as a service, that 15 new ransomware affiliate schemes appeared during 2020, including Thanos, Avaddon, SunCrypt, and many others.

Competition among ransomware developers can even lead to the authors providing special deals to wannabe crooks, which is more bad news for potential victims.

Full article here https://www.zdnet.com/article/ransomware-as-a-service-is-the-new-big-problem-for-business/

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