The appearance of ransomware in 2005 brought a new and relatively straightforward type of cyberattack to the table, in which a victim’s data or device is held hostage unless a hefty ransom is paid. The device or data becomes untouchable, “frozen” by the malicious actor until the ransom money has transferred hands.
A new cybersecurity issue now looms with increasing severity, beginning with its first appearance in 2012 when it emerged as Reveton, a ransomware often considered the first example of ransomware as a service. Since then, ransomware as a service (otherwise known as simply RaaS) has emerged as a significant threat, creating a concern for businesses of all sizes. It is now easier than ever for malicious actors to launch destructive attacks on an organization using this sophisticated business model. This article will explain the operational mechanics of RaaS and assist organizations in developing a plan to mitigate this threat and recover from an attack.
What Is Ransomware-as-a-Service (RaaS)?
Definition and explanation of Ransomware-as-a-Service
Ransomware-as-a-Service (RaaS) is a business model first.
You’ve heard of SaaS? (Software as a service?) RaaS is it’s unhinged sibling. In this model, cybercriminals offer ransomware tools and services to other criminals with less “technical” ability. Instead of having to go to the trouble of creating ransomware from scratch, individuals can now pay and access ready-made ransomware solutions.
Key characteristics and features of RaaS
Just like its brother SaaS, RaaS provides a range of features, including user-friendly interfaces, customizable options, payment processing - albeit in cryptocurrency- and even technical support. Users can find assistance from developers, updates that maintain the software’s effectiveness and can even tailor attacks to their specific needs.
Implications and risks associated with RaaS
RaaS providers are constantly improving their skills and product, developing greater sophistication, demonstrable through the launching of increasingly advanced and more damaging attacks. Small and medium-sized businesses with less access to cybersecurity-specific teams and vigorous cybersecurity measures are at particular risk for attack, since these are more easily accessible to cybercriminals. With fewer barriers to entry, the number of ransomware attacks is surging.
Examples of ransomware-as-a-service
The Cybersecurity Community has made an art out of documenting and developing an understanding around the unending list of ransomware attacks and the use of ransomware as a service, yet a few notable examples stand out.
One is LockBit, which emerged in 2019 and quickly grew in notoriety. LockBit is known for impacting thousands of organizations all over the world, and although law enforcement has extended significant energy into preventing LockBit from operating, it has taken years to truly become familiar with the organization and its products and services and understand the impact of RaaS. Another is DarkSide, famous for several attacks on major corporations with an operational model that includes a customer support system. REvil is another, famous for high-profile attacks and sophisticated encryption technologies.
How Does the RaaS Model Work?
Overview of the RaaS business model
Like SaaS, the RaaS business model operates like a subscription service. Threat actors purchase a toolkit from cybercriminals and use it to deploy ransomware against a target. ransomware as a service providers will either charge a fee for the service and system or require a portion of the ransom payments, generating a profitable business exchange.
Roles and responsibilities of RaaS operators and affiliates
While RaaS operators develop and maintain the tools and handle technical support, they typically also manage and process payments. Their job is to create and maintain the software, encryption, and deployment, alongside payment processing.
Affiliates, on the other hand, target victims, sign up for services, gain access to the toolkit and control panel, and deploy ransomware. They also manage negotiations and ransom payments.
Monetization methods and payment mechanisms in RaaS
Purchasers are charged a flat rate for access to the ransomware toolkit, making subscription fees a lucrative endeavor for these skilled cyber criminals. Revenue sharing is another monetization method, in which RaaS providers take a portion of the payment collected by affiliates. In addition, optional premium features and services can also be provided, including additional support or advanced encryption techniques.
Preventing RaaS Attacks
Best practices for protecting against RaaS
If you have been reading cybersecurity blogs for any amount of time, you may have noticed that the same practices are recommended over and over to help mitigate the risk of many different types of cyberattacks. This holds true for RaaS. In this instance, ensuring regular backups of critical data, keeping software and systems up-to-date, and using strong passwords alongside good password hygiene are helpful tips that protect against any malicious cyber attack.
Implementing robust cybersecurity measures
It is possible to take measures to deter a ransomware as a service attack. Thankfully, these measures are accessible to businesses of all sizes. First, detect and prevent ransomware by using firewalls and anti-malware software. Identify and respond immediately to suspicious activities by implementing intrusion detection systems and protect sensitive data with the latest encryption technology.
Educating employees and raising awareness about RaaS
As has been noted many times over, the human element is often the biggest vulnerability. Train and educate staff to identify, recognize, and avoid phishing scams often, and in a way that they cannot forget. It is also important to encourage employees to use secure networks and to exercise security-conscious decision-making in day-to-day activities and browsing.
Notable RaaS Variants
Overview of prominent RaaS variants and their characteristics
Let’s dive deeper into some notable RaaS variants and their characteristics. As stated earlier, examples like LockBit, REvil, and DarkSide give insight into the way these organizations work.
REvil is known for its aggressive tactics and extremely high ransom demands. According to CISA, the US Cybersecurity & Infrastructure Security Agency, Lockbit was the ransomware variant most frequently deployed worldwide in 2022. LockBit made cybersecurity history via consistent attacks the world over on organizations of any size, and features rapid encryption and a high degree of automation, making deploying ransomware a breeze even for less technical criminals. DarkSide focuses on high-profile targets, and has a highly structured negotiation process. Although these are just samples of prominent RaaS variants, they share a variety of characteristics, and each have impacted a significant number of organizations.
Analysis of recent RaaS campaigns and their impact
A range of industries have been targeted in recent RaaS campaigns, showing the versatility and effectiveness of this model. In particular, businesses in the healthcare and financial industries are consistently and aggressively attacked. This is commonly due to the amount of useful personal data available in their systems, as well as the potential for significant financial gain.
Trends and developments in the RaaS landscape
As the RaaS landscape evolves, ransomware tools are becoming more automated, reducing the need for manual intervention. This increased automation creates an easier user experience and strengthens the likelihood of more persistent and regular attacks.
Additionally, encryption techniques are constantly evolving, and ransomware as a service providers benefit from this enhanced encryption as it allows their malware to evade detection more easily.
Legal Implications of Ransomware-as-a-Service
Legality and ethical concerns surrounding RaaS
Cybercrime is a crime, and RaaS facilitates cybercrime by allowing criminals to purchase and deploy ransomware effectively in order to collect a ransom. While RaaS is both illegal and unethical, this historically hasn’t been enough to deter its many providers and users.
RaaS is not going away.
Legal actions taken against RaaS operators
Law enforcement and government agencies the world over are currently in active pursuit of RaaS operators, taking strong, measured action against threat actors worldwide in the hopes of creating a safe cyberspace for all.
Providers of RaaS can and do have their infrastructure seized as a punishment, as law enforcement takes down servers used for ransomware as a service operations. Individual prosecutions frequently occur, in which people are charged with crimes surrounding the creation and distribution of ransomware. With the advent of cybersecurity and technical news at the fingertips of any and every one, these criminals rapidly gain notoriety– and ideally, shame.
International cooperation and efforts to combat RaaS
International cooperation is an important component of the fight against RaaS. It’s a small world, after all. Nations sharing intelligence and resources in cross-border collaboration is an effective means of identifying and capturing malicious cybercriminals.
Further, efforts to harmonize and unify laws, regulations, and legislation across borders allow law enforcement everywhere to address the global nature of RaaS.
Protecting Your Business from RaaS Attacks
Effective strategies for safeguarding business data
Safeguarding business data is everyone’s job. Business owners and IT managers should implement comprehensive security policies with no lack of attention to detail and make efforts to effectively train staff in security procedures and best practices.
Implementing multi-layered security measures
Within cybersecurity, implementing multi-layered protection measures ensures that the impact of a potential breach is lessened. Multi-layered approaches like network segmentation work to this effect. Using advanced endpoint protection solutions and excellent password hygiene also serve this purpose. There are several available security tools designed to meet this need.
Incident response and recovery plans for RaaS incidents
Lastly, it’s important to start preparing, immediately establishing a clear process for handling and responding to ransomware incidents if one is not already in place within an organization. A good place to start is a comprehensive analysis of the entire scope of an organization’s cybersecurity needs based on that organization’s functionality and the type of data it moves, the actual attack surface, and a step-by-step plan both for being prepared and recovering from a ransomware incident. Most critical is a recovery plan: strategies are needed to restore systems and recover data after an attack.
It all starts with a solid security plan and attention to detail, both made easier to achieve when accessible tools that serve this purpose are used.
