Crimeware

Further Insights into Crimeware-as-a-Service

With the preponderance of articles and think-pieces dedicated to crimeware-as-a-service (CaaS) this year (some of them covered here on MyIDMatters), we might do well to call 2023 “The Year of CaaS.” Unfortunately, however, the rise of CaaS has not led to a rise in awareness of the ways in which CaaS mirrors software-as-a-service (SaaS) programs. Like their counterparts, Microsoft Office or Zoom, CaaS cyberattacks are purchased from a decentralized location (for a little as $40) and are terribly simple to use—the attackers purchasing these programs do not require much know-how to deploy them.

Last year, phishing software purchased online targeted some of the biggest banks in the country. But the danger CaaS poses is not limited to large corporations and financial institutions. Although many individuals are protected from cyberattacks at their place of work, the moment they arrive home, they become easier targets for CaaS criminals. Unsurprisingly, the sudden increase in individuals working from home has had a proportionate increase in the number of CaaS attacks on the average household.

There is some good news: law enforcement agencies have begun utilizing CaaS as a way to turn the tables on potential hackers. In the UK, for example, officers have created fake CaaS sites as a way to target potential actors who have yet to make their first attack. Once they identify who is attempting to register on their fake site, law enforcement then reaches out to deter future action. These sites mimic DDoS attacks, which are programmed to overwhelm your system, thereby completely shutting it down.

The proliferation of CaaS makes security measures like multi-factor authentication critical. You may also want to bolster the strength of your passwords and use passkeys on your phone. At the risk of repeating, anti-virus software is an absolute must and also consider combining your coverage with a VPN to protect the origin of your information (i.e., your personal devices). CaaS software is cheap, but the consequences of losing your data can be devastating, so make sure you are protecting yourself.