28 Aug RaaS Attacks: Economics and Mitigation Strategies
in Blogs
This week in cybersecurity from the editors at Cybercrime Magazine
– Read the Full Keepit Story
Sausalito, Calif. – Aug. 28, 2024
Data security company Keepit explains that Ransomware-as-a-Service (RaaS), as the name suggests, is a model where cybercriminals develop and offer ransomware kits and services to other individuals or groups, allowing them to execute ransomware attacks with minimal technical expertise.
RaaS is a turnkey solution for anyone looking to extort money through malicious means. With this cybercrime business model, one party creates ransomware software and then a second party pays to use said ransomware software to launch attacks.
Criminals that were previously limited by their lack of specialized skills can now carry out sophisticated and successful ransomware attacks. Essentially, RaaS has democratized ransomware.
Cybersecurity Ventures predicts that the global damage costs from ransomware will reach $265 billion USD annually by 2031, highlighting in part the significant financial impact of RaaS.
Read the Full Story
Cybercrime Magazine is Page ONE for Cybersecurity. Go to any of our sections to read the latest:
- SCAM. The latest schemes, frauds, and social engineering attacks being launched on consumers globally.
- NEWS. Breaking coverage on cyberattacks and data breaches, and the most recent privacy and security stories.
- HACK. Another organization gets hacked every day. We tell you who, what, where, when, and why.
- VC. Cybersecurity venture capital deal flow with the latest investment activity from various sources around the world.
- M&A. Cybersecurity mergers and acquisitions including big tech, pure cyber, product vendors and professional services.
- BLOG. What’s happening at Cybercrime Magazine. Plus the stories that don’t make headlines (but maybe they should).
- PRESS. Cybersecurity industry news and press releases in real time from the editors at Business Wire.
- PODCAST. New episodes daily on the Cybercrime Magazine Podcast feature victims, law enforcement, vendors, and cybersecurity experts.
- RADIO. Tune into WCYB Digital Radio at Cybercrime.Radio, the first and only round-the-clock internet radio station devoted to cybersecurity.
Contact us to send story tips, feedback and suggestions, and for sponsorship opportunities and custom media productions.