Cybercrime-as-a-service, ransomware still on the rise

Cybercrime-as-a-service is expanding, given its lucrative business model that requires basic technical skills. This is among the key findings highlighted in the 2023 Threat Report issued by cybersecurity company Sophos.

The report also notes that, in addition to the usual malware, scamming and phishing kits, cybercriminals are now selling tools and capabilities that were once reserved for the most skilled and sophisticated attackers. Ransomware-as-a-service has gotten particularly popular among threat actors, leading to a lower entry barrier for would-be criminals. As a mitigation tool, IT managers are looking at Managed Detection and Response (MDR) services to spearhead early detection and interception of attacks.