Similarly, according to the Cybersecurity and Infrastructure Security Agency’s (CISA) 2024 report, ransomware continues to evolve and disrupt “critical services, businesses, and communities around the world, causing costly incidents that are increasingly disruptive and disruptive.” According to the report, it costs businesses an average of $1.85 million to recover from a ransomware attack.
To add insult to injury, 80% of victims who paid the ransom were re-victimized by criminals, CISA reports. The economic, technical, and reputational impact of ransomware incidents, throughout the initial disruption and, at times, extended recovery, continues to challenge organizations large and small, according to CISA.
What is ransomware as a service (RaaS)
Ransomware as a service (RaaS) allows cybercriminals to provide ransomware software to other individuals or groups for a fee. Although it is a criminal activity, it follows the same model as software-as-a-service, infrastructure-as-a-service, and other cloud-based services. This allows people with limited technical skills to launch ransomware attacks without needing to develop the malware themselves. RaaS has made it easier for cybercriminals to launch ransomware attacks, increasing the frequency and sophistication of these attacks – and AI is only making it easier.
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