Cyber Defense eMagazine December 2019

78
The Rise of Cybercrime-As-A-Service
And What It Means for Businesses
By Mark Belgrove, Head of Cyber Consultancy, Exponential-e
In a sea of increasingly complex cyber warfare and nation-state hackers, it can be easy to forget that the
simplest things are still the biggest security threats. These can range from falling for an email phishing
scam to people not programming properly, leading to website vulnerabilities. In fact, because so many
cyber security methods of attack are so mainstream, carrying out these attacks has now become a
business in itself -- a bonafide service in its own right, where all you need to do is press a button and pay
an e-invoice.
Last year, the cybercrime industry was estimated to be worth $1.5 trillion; this year, the nefarious
economy shows no signs of slowing down. Though illegal, the cybercrime economy is clearly proving
reliable amid fiscal and social uncertainty across the globe; its lasting power lies in its self-sufficient and
profitable status. If you go to the right place, you can buy cybercrime-as-a-service, press a button, get an
invoice, then take on your chosen target through a third-party without needing any cyber skills of your
own. The attention to detail is now so curated that criminal organisations often have help desks.
While it might seem shocking how widespread the cybercrime-as-a-service has become, this means it’s
more important than ever to understand and attempt to mitigate it. As easy as online shopping, accessing
cybercrime tools, services, and expertise is an incredibly straightforward business these days if you know
who to look for. Also, due to the very nature of cybercrime, there’s no end to the location of potential
malicious actors, who can launch a cyber attack on a business headquartered in a completely different
country or even continent to the attacker themselves.