Ransomware as a Service (RaaS)

Before delving into RaaS, let’s quickly review ransomware. Ransomware is malware that encrypts all or part of a system, rendering it inoperable until a ransom fee, usually demanded in bitcoin, is paid to the hacker, who will then supposedly provide a key to unlock the encryption. As opposed to data breaches, which seek to steal credit card information, Social Security Numbers, and other sensitive data, ransomware doesn’t access files or data. It just locks everything down.

Example of a Ransomware

Paying the ransom is a dicey bet. Even after getting the money, hackers may not send a key, or they may send one that doesn’t work, or that doesn’t fully work.

Example of a service page for RaaS

At its simplest, RaaS is a criminal offshoot of software-as-a-service (SaaS), the myriad of cloud-hosted software solutions sold by legitimate vendors to both people and businesses. Just like SaaS applications, RaaS is sold on a cloud-based subscription model to anyone who can ante up the subscription fee. In some cases, there is no subscription fee; many RaaS developers use “affiliate” models where the developer collects all of the ransom money extorted by affiliates, takes out some percentage as commission, and passes on the remainder.

RaaS Business Model

While RaaS applications vary in complexity, in general, they are designed to be very easy to use. They’re deployed using online portals with simple user interfaces, and no coding is required. Many enterprising RaaS “vendors” even offer online customer service, just like an SaaS developer would, to help subscribers get their ransomware campaigns up and running.

The biggest danger of RaaS is that it made it possible for just about anyone to become a cyber extortionist. Undoubtedly, the advent of RaaS contributed greatly to the exponential growth of ransomware attacks.

Example of a member selling RaaS

RaaS gives users all the benefits of a regular ransomware attack, without the hassle of writing their own code.

Ransomware took off because it tends to be much more lucrative than data breaches. Once hackers breach a system and steal data, they must procure a buyer and negotiate a price. This can take time, and the data may not be worth as much as the hacker thought it would be. Ransomware and RaaS attacks come with built-in “buyers”: the businesses who are locked out of their systems, who are often not in a position to negotiate on price.

While Ransomware-as-a-Service (RaaS) is a brain-child and one of the latest threats to prey on digital users, it becomes important to take some preventive measures to fight this menace. In addition to other basic security measures, you can also rely on advanced antimalware programs for better secure you against this threat.

More information about Ransomware are found Here.