Ransomware-as-a-Service, or RaaS, has taken the threat landscape by storm — so much so that in 2023, the White House re-classified ransomware as a national security threat. How has RaaS taken the impact of ransomware attacks to this next level of federal concern? By allowing potential cybercriminals to launch a ransomware attack regardless of their experience with programming or technical sophistication.
According to Cybersecurity Ventures, ransomware might cost companies nearly $265 billion annually by the end of 2031. Meanwhile, bad actors get a lot of bang for their buck with Ransomware-as-a-Service. RaaS kit subscriptions can be as little as $40 per month.
That said, security professionals shouldn’t roll over or wave the white flag. Implementing a few key strategies can minimize the effect and decrease the likelihood of falling victim to a RaaS attack.
What is RaaS?
Organizations should clearly understand what RaaS is to make their security strategies specific to the needs of ransomware defense.
So, what is Ransomware-as-a-Service? It’s a business model designed by larger, more sophisticated ransomware groups. These groups utilize their technical expertise to create portable ransomware packages — or kits — that they then sell to buyers aiming to launch their own ransomware attacks.
Basically, ransomware operators turn their processes into a program or software usable by other threat actors. RaaS packages are often advertised on forums on the dark web, and they can also come with downloadable features, bundled offers, and 24/7 support staff. Well-known examples of groups that produce RaaS kits include:
LockBitREvil ransomware service cheat sheet
