Believe it or not, attackers are using ransomware-as-a-service (RaaS) to attack your company. As a result, businesses are losing an average of $1.85 million behind data recovery after each hack. Furthermore, two-thirds of the attacks in 2020 were ransomware. But, since hackers will not stop, how do you prepare yourself? In this article at IT Business Edge, Jenn Fulmer shares the landscape of ransomware-as-a-service and how you can prepare against it.
Learning About Ransomware-as-a-Service
Ransomware-as-a-service is a competitive market. So, RaaS companies offer their services like any other company on their website, complete with whitepapers, tutorials, and social media pages. It is a subscription model that RaaS developers are providing for a price as little as $40 to hundreds of dollars. So, cybercriminals no longer need to know coding to hack your organization. The ransomware hacks alone cost companies $20 billion in 2020.
The Good and the Bad of It
Since the ransomware-as-a-service market is growing, there will be more hacks in the future with even more sophisticated attack methods in mind. Since RaaS providers develop these malicious codebases, it becomes harder for investigators to find the real culprits. However, the upside is that these attacks will have the same entry points. If you can identify the patterns, you can protect or at least prepare yourself with these options:
Endpoint protection platforms (EPPs) have antivirus and data encryption to safeguard your system, smartphone, and other endpoint devices like printers. You can detect ransomware and stop the hackers from infiltrating because you can monitor all your devices from an EPP’s centralized console.Next-generation firewalls (NGFW) can block any malicious virus from entering your corporate network should one of your endpoints get infiltrated.Backup and recovery services create backups of your data so that you do not have to pay a hefty ransom amount to the hackers. Autonomous backups have already saved your sensitive information in a remote location.
To view the original article in full, visit the following link: https://www.itbusinessedge.com/security/ransomware-as-a-service/
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