Why You Should be Concerned About Cybercrime as a Service (CaaS)

A field that was once almost exclusively reserved for the most tech-savvy and those with the greatest expertise, cybercrime is evolving to enable virtually any layman to involve themselves.  

Through Cybercrime as a Service (CaaS), less knowledgeable criminals can gain access to tools and services they would otherwise have been unable to. CaaS works very similarly to SaaS (Software as a Service) in that services are loaned out or sold to customers, but in this instance, involving hacking tools and other criminal services.  

CaaS is typically distributed on underground and dark web forums and works similarly to everyday services that may be bought. The vendors are subject to reputation reviews and support services are also provided to walk customers through any potential issues and also assist them in how to use the service purchased.  

All kinds of criminal services are provided as part of CaaS on these forums, including malware, ransomware DDoS for hire and cryptocurrency tumblers. For those services intended to make profit, the vendor may charge commission, ranging from 10, 20, 30 or even 40 percent of all earnings. 

Low entry barrier 

One of the biggest arising from the proliferation of CaaS in recent years is the induced low barrier for entry. Almost anybody with a small amount of technical knowledge can purchase one of these services and start undertaking criminal activities. 

Difficulty in attribution also increases as the diversification of those using these services means it is hard to keep track of every incidence. The tools used also often have built in anonymisers to keep criminal’s identities private. 

Not only for amateurs  

CaaS is not only utilised by those less technologically inclined, but also more advanced threat actors. 

With CaaS making personal attribution less likely to the customer, products are utilised by those more advanced to conduct ‘hit-and-run’ style operations. For example, to rent a ‘DDoS booter’ for a day could only put you back around £45.  

They may also purchase some services offered online to expand their arsenal of tools. It means they don’t need to put in the work themselves. 

Future of the CaaS market 

One of the most concerning aspects of the boom in the CaaS market is that it is only likely to get worse. As criminals see the amounts of money involved with such practices, more will flock to try to get a share.  

What this also means is the threats posed will likely only increase. The CaaS market works like any ecosystem where the presence of competition means actors must develop their offerings. This results in, as is already being seen, more advanced tools being created to attempt to get ahead of the competition. 

Authorities may attempt to shut down the online spaces where CaaS is being distributed, but the internet is now so vast and diversified, this would only like prove to be a very short-term solution.  

How you can stay protected 

CaaS may prove difficult to stop at source but there are a series of safeguarding steps you can do to ensure your business remains secure. 

• Layered security solutions: Cybercriminals will often target organisations most vulnerable – by having layered security such as multi-factor authentication you are more likely to be secure. Have an additional layer of verification alongside strong passwords. 
• Up-to-date systems and antivirus software: Vulnerabilities can emerge in outdated systems. Having solid antivirus software is also a must. 
• Backup protocols: Ensure backup protocols are part of company practice to prevent the possibility of catastrophic loss of data. 
• Employee training: Educating employees on good practice and how to stay safe online is a simple thing to do but can often has significant results. 

Summary 

Cybercrime as a Service is on the rise and should be of concern. Low levels of entry and increasingly advanced services being offered mean cyber threats are soaring. Significant money is in the CaaS market and that can only be a bad thing.  

As authorities and enforcers attempt to get a stranglehold on this issue, in the meantime you can follow standard safeguarding steps to keep your business safe from potential threats. 

Securiwiser can help keep your business safe from cyberthreats. For a free score on how safe you are, click here.