Cybercrime as a Service: What Business Leaders Should Know About This Growing Threat

cyber attackThe popularity of cloud computing has driven the growth of Everything as a Service, or XaaS. Advantages such as easy deployment, accessibility, and cost savings have led service providers to offer everything from infrastructure to disaster recovery to contact center capabilities (and beyond) as a service.

This XaaS phenomenon extends beyond the legitimate and legal business world. The rise of cybercrime as a service offerings is making it easier than ever before for newcomers without advanced technical knowledge to carry out cyberattacks, according to Kaspersky Lab. Here are the answers to a few key questions about cybercrime as a service (CaaS), including essential facts about business leaders should know about this phenomenon and what it means for the IT security threat landscape.

1. Where do cybercriminals buy and sell these CaaS offerings? Aspiring cybercriminals can gain access to hacking tools and services through the Dark Web, a sub-layer of the internet where users operate anonymously. Due to that anonymity, the Dark Web has become a hotbed of illegal activity. It’s common for cybercriminals to go there to connect with others to buy or sell stolen credentials or other data, tools, or services that can help them carry out cyberattacks.

2. What kinds of tools and services do hackers sell in the CaaS market? Just as the legal cloud services market includes a wide range of offerings, sellers in the cybercrime as a service world provide various hacking services and tools. Here are just a few available in the cybercriminal world, according to a report from the security firm Armor titled “The Black Market Report: A Look Inside the Dark Web.”

  • Password stealing programs
  • Exploit kits for lease (e.g., there are WordPress and Microsoft Office exploit kits for sale at daily, weekly, and monthly rates)
  • Botnets for rent
  • DDoS attacks as a service
  • Account hacking programs
  • Hacking-related tutorials

3. What does this mean for the cybersecurity world and businesses looking to fend off cyberattacks? Individuals who wanted to enter the world of cybercrime used to have to know how to code and otherwise possess high-level technical knowledge, according to the CSO article “The rise and rise of Cybercrime as a Service.” This meant that a limited number of people were able to carry out successful cyberattacks.

However, the booming CaaS market means that would-be cybercriminals don’t need to possess tech-related expertise or talent to successfully gain unauthorized access to sensitive data. Thanks to cybercrime as a service, the cybercriminal population is getting bigger and has a lot more growth potential.

“The barrier to entry for cybercrime remains perilously low, making it that much more important that organizations and individuals focus on security,” the Armor report states.

Given how quickly IT security threats evolve and how rapidly new types of malware and attacks emerge, it can be difficult for businesses of any size to keep up and maintain a strong cybersecurity strategy. An IT managed service provider can make tackling IT security much easier by providing managed solutions and services, such as employee security training, next-generation firewalls, security risk assessments and penetration testing, compliance as a service, endpoint protection, and more.

Our team of cybersecurity experts work with a wide range of vendors and can help your organization determine which offerings work best for your specific circumstances, as part of a comprehensive approach to cybersecurity that will minimize your data breach risk. Don’t hesitate to contact us for more information by calling 877-599-3999 or emailing sales@stratospherenetworks.com.

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