According to a blog post by the Microsoft Security Team, Cyber Signals was released on Monday, August 22, 2022. The report “highlights security trends and insights gained from Microsoft’s 8,500 security specialists.”
This issue of Cyber Signals explores “the evolving cybercrime economy and the advent of Ransomware-as-a-Service” (RaaS). Microsoft’s “threat intelligence” provides direct “visibility into threat actors’ behavior,” the company’s team stated in a blog post about the topic, rather than relying on what hackers say about themselves through extortion attempts, forum posts, or chat dumps.
Which Actions Are Taken By Microsoft Against It?
Microsoft’s claims of an increase in “both the volume and sophistication of cyberattacks” are supported by the FBI’s 2021 Internet Crime Report, which states that “the cost of cybercrime in the United States was more than USD 6.9 billion.” It is estimated that between May 2021 and June 2022, ransomware threat actors stole ten terabytes of data each month, with 58.2% of files stolen having employee personal data.
Microsoft employs “more than 8,500 specialists” who “see first-hand what organizations are encountering” owing to their “human intelligence.” Enterprises without basic security, like multifactor authentication, are at a disadvantage when trying to stop ransomware’s access points before the malware’s propagation, as there is a growing internet database of stolen credentials. In the hands of RaaS threat actors, your network’s vulnerabilities become a valuable commodity that can be sold to other hackers.
Businesses can save money by increasing their security, contrary to widespread assumptions. Your systems’ safety will increase, your company’s bottom-line growth will be boosted, and more resources will be available for preventing and resolving actual incidents. That’s why robust defense mechanisms must be set up for businesses and tech-savvy individuals.
Types of Defenses Against RaaS
Microsoft’s quarterly brief highlights danger topics based on their 43 trillion signals of data and the research of more than 8,500 security professionals. It’s just a tool on Microsoft Security Insider, a hub for up-to-the-minute information about cybersecurity news, developments, and threat intelligence.
Human-controlled ransomware is rising, and Microsoft has been monitoring this development. Human decision-making at every level of the assault cycle makes this class of threats significantly damaging to businesses.
New types of collaboration are needed to defeat ransomware. Effective defenses require a clear understanding of threats and the ability to prioritize responses; this calls for more cooperation between the public and private sectors to promote global security.
Since Microsoft views security as a team endeavor, they handled this responsibility very seriously. If you’re interested in keeping up with the latest news and advancements in cyber security, look no further than Security Insider.
Hackers use the dark web to buy and sell ransomware payloads, leaked data, RaaS “kits,” and various other resources in ransomware-as-a-service (RaaS). In the second edition of Cyber Signals, we discuss this issue in more detail. This field marks spreading more knowledge to aspirants to safeguard against these attacks. Some of the important skills you need in this field include but are not limited to
- Programming Skills
- Knowledge of Agile Development
- Knowledge of operating systems
- Knowledge of Databases
- The Basics of Security and Privacy
- The Basics of Networking
You can learn all of these and more through cyber security courses online and become a skilled cyber security specialist.
Is this an Unavoidable Threat?
The infrastructure for launching malware attacks and wiping out organizational data is present in RaaS operations like REvil and the defunct Conti. These are used to increase ransomware activities. They sell these instruments on the web. Partners buy the RaaS tools and implement them in their businesses. RaaS may offer packaged deals, customer assistance, and feedback communities similar to traditional “as a service” offerings.
Although tempting to hackers, ransomware as a service presents severe problems for businesses. Over 80% of ransomware incidents use software and configuration errors that can be readily avoided. There is no evidence that ransomware offenders are using highly inventive techniques.
The same advice for timely patching, excellent credential cleanliness, and monitoring any changes in software and configurations can help an organization become more resistant to attacks. Another issue is some malicious actors are ignoring the ransomware. They steal private information from the victim company, threaten to sell or publish it on the web, and then demand ransom.
Businesses are at higher risk of a successful breach and extortion if they restrict their investigations to ransomware evidence. Lastly, the hacking simplicity indicates it will almost certainly continue to be a headache for businesses worldwide.
Solutions for Cyber Safety
Companies may help thwart cybercriminals through integrated threat prevention across devices. Cybercriminals exploit security flaws to steal sensitive information or commit other crimes. You may defend your infrastructure from RaaS attacks by employing one of these three primary methods:
Implement a Zero Trust strategy
This is for defense and recovery, which means verifying and authorizing requests before giving access. With this tactic, you’ll also be able to safeguard backups and data.
Avoid Identity Theft by Taking These Precautions
Protect credentials and stop attackers from using lateral movement to hide their tracks as they search your business for valuable assets to steal or damage. Deploying 2FA per login access can help a lot in combating identity theft.
Avoid, Identify, and Counteract Danger
Use integrated information and SIEM capabilities for complete prevention, detection, and remediation. To do this, you must be aware of and take measures to close potential entry points for attackers.
In addition to outside-in safeguards, it’s crucial to implement inside-out safeguards, such as information and data protection and risk management.
The Bottom Line
Cyber Signals is Microsoft’s effort to understand the full spectrum of cybercriminal attacks and operations. It centers on collecting intelligence on cybercriminals’ habits, strategies, tools, and techniques. We think the information on cyber threats should be widely disseminated. You can also read blogs on security intelligence, the Microsoft Digital Defense Report, and Cyber Signals. The ever-increasing need for cyber security experts due to the alarming rate of cyber attacks makes it high time to get certified. One no longer needs to visit a physical premise to obtain a certification, as you can quickly complete a degree over the web. If you’re looking to pursue a cyber security course, Your journey begins here!