If you’re involved in the modern world of business technology, you’ve probably heard terms such as SaaS: Software as a Service, PaaS: Platform as a Service, IaaS: Infrastructure as a Service, or others. These terms have been developing over the last decade with the rise of cloud services. They mean the type of I.T. solution that’s offered rather than as a product, but as a service, and are indicative of the level of responsibility over the resources. As technology grows, new variants are created like DaaS: Desktop as a Service.
While that’s an awesome innovation in the field, some not-so-friendly characters over the last half-decade decided to take that concept and apply it to the malicious software known as Ransomware.
You might be thinking, “What? Ransomware isn’t a service anyone would want? Opal, what are you trying to tell us?”
Hopefully you’ve never had to deal with it yourself, but to give context for the purposes of this post, let’s jot down the definition of Ransomware is:
Ransomware is a type of malicious software (Malware) designed to encrypt files on a victim’s computer, rendering them inaccessible unless a ransom is paid. Ransomware typically works by exploiting vulnerabilities in a computer’s security, such as through phishing emails, malicious attachments, or infected software. Once the ransomware has infected the victim’s computer, it will encrypt files and display a ransom note demanding payment, usually in cryptocurrency, in exchange for the decryption key needed to unlock the files. Ransomware attacks can cause significant financial losses, reputational damage, and legal repercussions, making them a growing threat to businesses and individuals alike.
Now, anyone who has had the unfortunate experience of dealing with ransomware has surely had the thought: “Can I trust them? If I pay this ransom, will I really get my data back?” This point ended up making many people not pay at all, and while the hacker does not necessarily have a loss of investment, as the encryption process is often automated, they do have a loss of potential ‘earnings’.
RaaS: Ransomware as a Service – takes the concept of call center support and applies it to the illicit practice of Ransomware. Hackers decided to give their victims some more insurance by having established call centers commonly outside of the United States that will support people in buying cryptocurrency and getting their data unlocked. These centers are often even trained to remote in and provide genuine support in unencrypting the files.
So that’s nice, but you never should have to consider paying thousands or upwards of millions of dollars to get your own data back. In situations like this, it’s always important to secure your data with backups. If your security does get breached, backups will be your saving grace.
Is your business prepared for this type of situation? If not, Opal Business Solutions can implement the necessary solutions to safeguard your organization. Talk to our team by entering your contact information below!