What is Ransomware as a Service (RaaS)? Unmasking The Dark Side Of Cybercrime-as-a-Business

In the world of cybercrime, malicious actors are always on the lookout for new ways to profit from their nefarious activities. One such innovation is Ransomware as a Service (RaaS), a chilling concept that has transformed ransomware attacks into a sinister form of cybercrime business. In this article, we will delve into the intricate web of RaaS, unraveling what it is, how it operates, and the implications it holds for the digital world.

​
​What is Ransomware as a Service (RaaS)? 

Ransomware as a Service (RaaS) is a malicious business model that allows cybercriminals to distribute ransomware through a subscription-based service. Basically, this allows the buyers, called affiliates, to pay to launch ransomware attacks. Rather than developing their own ransomware strains and infrastructure, affiliates can now rent or purchase ready-made ransomware kits from darknet marketplaces. This ominous innovation has lowered the entry barriers into the world of cyber extortion, allowing even those with limited technical expertise to become ransomware operators. Hence, RaaS is one of the prominent reasons for the rapid growth of ransomware attacks worldwide.

The RaaS operations model makes it much easier for anyone to carry out a ransom campaign. As they provide affiliates with expert-level software to encrypt files and 24/7 software support. 

​
How Dangerous is RaaS? 

Ransomware as a cyber threat continues to grow rapidly in 2023. Ransomware attacks have continuously increased with a report that showed 1 in 31 organizations worldwide experienced a ransomware attack weekly over the first quarter of 2023. From Corvus research, the number of ransomware attacks increased by roughly 180% in June 2023 as compared to the same month last year. Furthermore, Cyberint reported that there was a 67% increase in ransomware cases in Q2 of 2023 as compared to Q1. Compared to Q2 2022, there was a 97% increase in ransomware cases.

​
​How Does RaaS Work? 

The mechanics of RaaS are as unsettling as they are efficient.

1. Access to Tools: Aspiring cybercriminals gain access to RaaS platforms on the dark web, which provide them with user-friendly interfaces and RaaS tools to interested affiliates. They also provide predesigned playbooks and tip sheets for executing a successful attack. 
2. Customization: RaaS operators give affiliates access to a “build your own ransomware package” panel. This allows them to tailor their ransomware to specific targets or industries, set ransom demands and configure post-compromise user messages. This flexibility increases the likelihood of successful attacks.
3. Ransomware Execution: Affiliates compromise the victim’s assets and execute ransomware. 
4. Portals: RaaS operators set up a victim payment portal and help “assists” affiliates with victim negotiations. Affiliates communicate with victims via chat portals or other communication channels. 
5. Ransom Collection: When victims are infected and their data encrypted, the ransomware displays a ransom note with instructions on how to pay the extortion fee. Payments are typically demanded in cryptocurrencies, providing anonymity to the criminals. 
6. Payment Split: In a typical RaaS scheme, the operators and affiliates share the ransom payments, with a percentage going to the RaaS provider. This model ensures a steady stream of income for all parties involved. 

Below are the 4 common RaaS revenue models:
While payment details vary depending on RaaS revenue model, affiliates tend to take a significant cut of the ransom (typically 70-80%). Below are the 4 common ways profits can be split. 

1. Subscription-based RaaS: Users pay a monthly flat fee for access to the ransomware. 
2. Affiliate Programs: Some RaaS operators offer affiliate programs which is similar to the monthly fee model but it incentivizes others to distribute their ransomware. 
3. Lifetime License: Affiliates pay a one-time fee and have unlimited access. No profit is shared with the RaaS operators if their ransomware attack is successful. 
4. RaaS partnerships: Profit split is larger than the affiliate model but affiliates only need to pay when an attack is successful. ​

​Implications & Challenges 

RaaS present several concerning implications: 

1. Proliferation: RaaS has led to a proliferation of ransomware attacks. More actors with varying motivations and targets are entering the arena, making it harder to predict and prevent attacks.
2. Diversity of Targets: Ransomware attackers can target a wide range of victims, including individuals, businesses, hospitals, and even critical infrastructure. No one is immune.
3. Legal Challenges: The international nature of cybercrime and the use of cryptocurrencies make it challenging for law enforcement agencies to track down and apprehend RaaS operators.

Best Practices To Defend Against Ransomware & RaaS

1. Backup Data: Regularly and frequently back-up critical data and store it offline. This ensures that even if you fall victim to ransomware, you can recover your data without paying a ransom.
2. Multiple Backups: Make multiple backups if possible and store them on separate devices in different locations. 
3. Strong Security Practices: Maintain strong cybersecurity practices, including regular software updates to protect from vulnerabilities, robust firewalls, and intrusion detection systems.
4. Endpoint Protection: Implement reliable and modern endpoint protection such as EDR and EPP, that can work on advanced algorithms and works automatically 24/7. 
5. Employee Education: Train employees to recognize phishing attempts and suspicious emails, which are common delivery methods for ransomware.

Takeaway 

Ransomware as a Service (RaaS) represents a disturbing evolution of cybercrime, democratizing the ability to conduct ransomware attacks. As individuals and organizations grapple with this growing threat, staying informed and implementing robust cybersecurity measures is paramount. By understanding the insidious nature of RaaS, we can collectively work toward a safer digital landscape, one that is less susceptible to the dark designs of cybercriminals operating in the shadows of the web.


​Securing Your Organization With TAFA 

​With the current cyber environment, organizations are facing increasingly sophisticated cyber threats such as the MOVEit theft-attack. To protect against these threats, it is necessary to utilize cybersecurity solutions that can prevent zero-day and advanced cyber threats, and help ensure regulatory compliance. 

With our prevention first and zero-trust approach to security using Machine Learning (ML) and Artificial Intelligence (AI), TAFA Shield will strengthen your company's ability to prevent and block cyber attacks and threats. Not only do we protect your endpoints, but we also proactively detect and respond to cyber threats, provide managed SOC services to further improve your security posture, and lastly provide you with professional cybersecurity services that delivers guidance, support and expertise in designing, implementing and managing cybersecurity solutions tailored to your specific needs. 

Furthermore, with our comprehensive customized vulnerability assessment and penetration testing (VAPT) service, not only do we ensure the safety and security of your organization’s operation and data, but also we ensure that you will meet the required industrial and regulatory compliances. 

To learn more information about TAFA Shield and our VAPT service, and how we can help your company, do not hesitate to contact us for more information.

​Related Topics
​
​Unraveling the MOVEit Data Breach: More Than 554 Organizations & 37 Million Individuals Affected

What Is A Ransomware Attack? How Does it Work? & Best Practices
 
​Ransomware - A Growing Problem & Best Practices For You and Your Company

​Ransomware Payments Skyrocket in 2023: The Unprecedented Surge and its Implications

Cybersecurity Wake-up Call: The Skyrocketing Breach Costs of 2023 At All-Time High ​

​