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Crime-as-a-Service Is the Next Big Security Threat to Your Company

IT Security

Summary Excerpt

CaaS is where experienced cybercriminals sell access to the tools and knowledge needed to carry out cybercrime. It's a particularly worrying trend because, with CaaS, anyone can be a hacker.

Crime-as-a-Service Is the Next Big Security Threat to Your Company

Today, companies have no shortage of security challenges. The skyrocketing popularity of cloud services, a sharp increase in cyberattacks, and a disappearing network perimeter are putting cybersecurity teams under more pressure than ever before. But unfortunately, an equally worrying challenge is now rearing its head – Crime as a Service (CaaS). 

What is Crime-as-a-Service?

Global cybercrime costs are predicted to reach an eye-watering $10.5 trillion annually by 2025, up from $3 trillion in 2015. It’s a staggering number and one that’s difficult to truly comprehend. And while general cybersecurity hygiene is increasing across industries, with phishing awareness reaching greater levels than we’ve seen in the past, there’s a problem. Our adversaries are always sophisticating their techniques and sharpening their tools. And recently, one trend that’s been gaining momentum is Crime-as-a-Service (CaaS). 

CaaS is where experienced cybercriminals sell access to the tools and knowledge needed to carry out cybercrime. It’s a particularly worrying trend because, with CaaS, anyone can be a hacker. Put simply, CaaS removes the barrier to entry for inexperienced or less tech-savvy threat actors. 

Types of CaaS

CaaS exists in many forms, but the most concerning for businesses are Ransomware-as-a-Service (RaaS), DDoS-as-a-Service, phishing kits, and malware kits. 

  • Ransomware-as-a-Service (RaaS): Cybercriminals sell or rent out the ransomware to buyers and receive a cut of each ransom in return. Ransomware encrypts a user’s files and demands payment, usually in the form of cryptocurrency, before releasing the files. 
  • DDoS-as-a-Service: Distributed denial-of-service (DDoS) attacks are where a threat actor sends a flood of requests to a server, rendering it unusable to legitimate users. DDoS-as-a-Service products allow fledgling cybercriminals to select the type and duration of an attack and pay the experienced perpetrator to carry it out. 
  • Phishing kits: Phishing is one of the most powerful tools in any hacker’s arsenal, and with good reason. Despite growing phishing awareness, these attacks are still highly successful. A whopping 1.5 million new phishing websites are created each month. Phishing kits provide all the tools threat actors need to conduct successful phishing campaigns. 
  • Malware or exploit kits: Exploit kits are packaged with exploits that can target commonly installed business software. Malware kits are a type of exploit kit installed with various Trojans or viruses that can target specific business software. 
  • Cybercrime To Cost The World $10.5 Trillion Annually By 2025
  • Phishing Statistics

Can Outsourcing Cybersecurity Help Combat the CaaS Threat?

Yes, outsourcing your cybersecurity can help combat rising CaaS threats and a whole host of other security challenges. Using a managed security provider allows you to access an entire team of highly skilled cybersecurity practitioners, each with expertise in different security fields and experience across various industries.

With high-profile data breaches happening almost daily, monitoring and managing your security is now a 24/7/365 endeavor. At ProStratus, we manage your security, so you don’t have to. Our team of experts has a comprehensive understanding of cybersecurity best practices, including vulnerability management, the NIST compliance framework, robust networking, and leading AI and ML security tools. And critically, we know how to leverage these tools and techniques to safeguard corporate networks from malicious actors. Put simply, we work hard to ensure your business is protected. 

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