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The Rise of Cybercrime – An Overview

Cybercrimes are more rampant in the year 2022. The rate of cybercrimes is increasing every year, and it is expected to reach its highest next year. It is said that cybercrime affects the security of more than 80% of businesses throughout the world today. It is mainly due to the limited capabilities of authorities in monitoring cyberattacks because this type of crime is performed using the virtual world.

According to the cybersecurity stats, more than half of cyberattacks are done through ransomware attacks. The statistics further stated that healthcare databases are the most targeted because of their importance to businesses. In addition, social media websites are also abused to spread malware and viruses or compromise sensitive information.

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Ransomware as a Service: The Trending Business Model for Attacks

Ransomware as a Service (RaaS) is the new and trending business model for ransomware attacks. It’s a decentralized and mostly automated mode of distribution to support the fast-growing demands of ransomware operators.

Currently, the attackers behind ransomware campaigns are constantly looking for ways to maximize profit (and minimize the effort). The RaaS framework can be used by anyone, even without any coding skills, as it provides essential tools to implement encryption and communication with command-and-control servers quickly.

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Common Security Lapses That Empower Cybercriminals

Over the past 12 months, the number of successful ransomware attacks has increased alarmingly. Many attacks have been headline news due to the disruption they have caused and the high cost of remediation.

The healthcare industry in the United States has been targeted, with the attacks disrupting patient care and putting patient safety at risk. Recently there was an attack on Colonial Pipeline that resulted in the shutdown of the main fuel pipeline serving the East Coast of the United States, while JBS suffered an attack that threatened food production at its U.S. plants.