It's understandable that Software-as-a-Service (SaaS) offerings have become established in the field of information technology in recent years: Through SaaS, users are provided applications such as cloud infrastructure on a rental basis by Managed Service Providers (MSPs) without the need for substantial initial investments in hardware and software. These services are centrally hosted, include update services, are absolutely scalable, and are accessible from anywhere without extensive knowledge of data center architecture and management by an internal admin.
Ransomware-as-a-Service (RaaS) can be thought of in a similar way:
Less experienced hacker groups “rent” ready-made “whitelabel” ransomware including infrastructure in the darknet from cybercriminal gangs for their attacks.
The “landlords,” or RaaS MSPs, receive a percentage of the ransom obtained in return for providing the RaaS. Since 2021, this has more than doubled the global ransomware attacks – and the trend is increasing.
Because even less technically savvy criminals can carry out complex ransomware attacks through the RaaS model, this significantly expands the reach of criminal activities. Organized groups can scale large-scale attacks with minimal effort by targeting multiple victims simultaneously, significantly increasing potential revenues.
The primary goal of ransomware is to extort ransom by encrypting files or locking victims out of their computer systems. In return, the victim may luckily receive the encryption key to restore their data.
The crucial question that arises here is: To pay or not to pay? The Federal Office for Information Security recommends not supporting cybercriminals and therefore not paying. However, if you fall victim to one of the well-known ransomware gangs, the chances are good that you will receive the encryption key upon payment of the ransom - because criminals also have a reputation to lose.
Following a ransomware attack, a company may struggle with data losses, fines, revenue declines, reputation damage, and even insolvency if the data cannot be restored.
To combat ransomware, it is recommended to implement appropriate security measures that can detect and block ransomware. Since the user is involved in almost 75% of all ransomware attacks, regular sensitization to strengthen security awareness is essential. Zero-day ransomware can only be combated by constantly updating systems.
