What is Ransomware?

Ransomware is a type of malware that encrypts computer systems to block user access until a set ransom is paid. Ransoms is usually only payable in bitcoin to make it difficult for law enforcement to track down the criminal recipients.

To assist in its rapid proliferation, ransom operations have adopted a Ransomware-as-a-Service (RaaS) business model - which is a variation of the innocuous Software-as-a-Service  (SaaS) Model.

ransomware as a service workflow

The RaaS model allows anyone to sign up as a ransomware affiliate to earn a percentage of each ransom payment. The success of this financial model has caused a dramatic increase in ransomware attacks, making ransomware the current biggest cyber threat to businesses globally.

Key takeaways

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    The average ransom payment increased by 33% between 2019 and 2020.
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    You don't need to be an expert hacker to sign up as a ransomware affiliate.
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    Phishing attacks are the most common attack vectors for ransomware injections.
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