What Is SaaS Ransomware & How To Protect Yourself from Attacks?

SaaS ransomware

Software-as-a-Service (SaaS) has revolutionised the way businesses operate. It offers convenience, scalability, and efficiency. No more dragging software from one device to another. Everyone can collaborate easily in the cloud.  

But alongside its benefits, SaaS brings with it potential threats. When software and data are online, they’re more vulnerable to attacks. One of the latest threats to move from endpoint devices to the cloud is ransomware.  

Ransomware has been around attacking computers, servers, and mobile devices for a while. But recently there has been an alarming uptick in SaaS ransomware attacks.  

Between March and May of 2023, SaaS attacks increased by over 300%. A study in 2022 by Odaseva found that 51% of ransomware attacks targeted SaaS data.  

In this article, we’ll delve into what SaaS ransomware is and the risks it poses. And, most importantly, how you can defend against it.  

What is SaaS Ransomware? 

SaaS ransomware is also known as cloud ransomware. Its malicious code designed to target cloud-based applications and services. These include services like Google Workspace, Microsoft 365, and other cloud collaboration platforms.  

The attackers exploit vulnerabilities in these cloud-based systems. The ransomware then encrypts valuable data. It effectively locks users out of their own accounts. Cybercriminals hold the data hostage. They then demand a ransom, often in the form of cryptocurrencies. The ransom is in exchange for the decryption key.  

Network & Security Newsletter

The Risks of SaaS Ransomware 

SaaS ransomware adds a new layer of complexity to the cybersecurity landscape. It presents several risks to individuals and organisations. 

  • Data Loss: The most immediate risk is the loss of critical data. You lose access to your cloud-based applications and files. This can cause productivity to grind to a halt. 
  • Reputational Damage: A successful SaaS ransomware attack can tarnish your organisation’s reputation. Customers and partners may lose trust in your ability to safeguard their data. This can negatively impact your brand image. 
  • Financial Impact: Paying the ransom is not guaranteed to result in data recovery. It may encourage attackers to target you again. Furthermore, the cost of downtime and recovery efforts can be substantial. 

Defending Against SaaS Ransomware 

As the saying goes, prevention is better than cure. When it comes to SaaS ransomware, proactive defence is key. Here are some effective strategies to protect your organisation against these threats. 

Educate Your Team 

Start by educating your employees about the risks of SaaS ransomware. Include how it spreads through phishing emails, malicious links, or breached accounts. Teach them to recognise suspicious activities and report any unusual incidents immediately.  

Enable Multi-Factor Authentication (MFA) 

MFA is an essential layer of security. It requires users to provide an extra form of authentication to access accounts. This is often a one-time code sent to their mobile device. Enabling MFA reduces the risk of unauthorised access. This is true, even if a hacker compromises an account’s login credentials. 

Regular Backups 

Frequently backing up your SaaS data is crucial. In the event of a ransomware attack, you still have your data. Having up-to-date backups ensures that you can restore your files. You won’t need to pay the attacker’s ransom demands. 

Apply the Principle of Least Privilege 

Limit user permissions to only the necessary functions. Follow the principle of least privilege. This means giving users the lowest privilege needed for their job. Doing this, you reduce the potential damage an attacker can do if they gain access. 

Keep Software Up to Date 

Ensure that you keep all software (SaaS applications, operating systems, etc.) up to date. They should have the latest security patches installed. Regular updates close known vulnerabilities and strengthen your defence. 

Network & Security Newsletter

Deploy Advanced Security Solutions 

Consider using third-party security solutions that specialise in protecting SaaS environments. These solutions can provide many benefits. Including: 

  • Real-time threat detection 
  • Data loss prevention 
  • And other advanced security features 

Track Account Activity 

Put in place robust monitoring of user activity and network traffic. Suspicious behaviour can be early indicators of an attack. One example to watch for is several failed login attempts. Another is access from unusual locations. 

Develop an Incident Response Plan 

Prepare and practice an incident response plan. It should outline the steps to take in the event of a ransomware attack. A well-coordinated response can mitigate the impact of an incident. It can also aid in faster recovery. The sooner your team can respond, the faster business gets back to normal.  

Don’t Leave Your Cloud Data Unprotected! 

SaaS ransomware is a significant cybersecurity concern. The best defence is a good offense. Do you need help putting one together?  

Our team can help you stay ahead of the cyber threats that lurk in the digital world. Give us a call today to schedule a chat. 

Other News Articles

Jun 17 2024

Microsoft Team Copilot

How Microsoft Copilot Can Transform Your Team’s ProductivityNeed some assistance ? Get in contact by filling in our short form belowNow Copilot’s Going to Make Your...
Jun 10 2024

Cyber Security Defence

Why More Businesses Are Investing in Cyber Security and Why You Should TooNeed some assistance ? Get in contact by filling in our short form below Understanding...
May 30 2024

Your Data Secret

Is Your Password Keeping Your Data as Safe as It Could Be?You Might Hold the Secret to Data Security in Your Finger Is your password keeping your data as safe as it...
May 28 2024

Say goodbye to video call pop-ups

Say Goodbye to Inopportune Pop-Ups During Video Calls with Microsoft's New FeatureImagine this: you're on an important video call with a client, confidently presenting...
May 21 2024

Maximising your Laptop Battery Health

Understanding and Prolonging Your Laptop's Battery Life Ever been caught out by a low laptop battery at the worst possible time? Here’s our professional advice to...
Apr 23 2024

Defending against cyber threats

Defending Your Business from Rising Cyber Threats: A Guide for SMBs Cyber threats are becoming increasingly menacing, targeting small and medium-sized businesses (SMBs)...
Apr 17 2024

Be more productive with these Microsoft Edge features

Boost Your Business Productivity: 5 Must-Try Microsoft Edge Features for Windows 11 Enhancing your business productivity is crucial, and with the powerful features of...
Data Breaches
Jan 16 2024

Why Did Data Breaches Increase By So Much in 2023?

The battle against cyber threats is an ongoing challenge. Unfortunately, 2023 has proven to be a watershed year for data breaches. Data compromises have surged to an...
Workforce Technology
Jan 16 2024

10 Ways of Modernising Workforce Technology for Smaller Companies

Technology plays a pivotal role in driving efficiency, productivity, and competitiveness. For small businesses, workforce technology modernisation is both an...
Removing E-Waste
Jan 09 2024

11 Ways to Efficiently Remove E-Waste From Your Office & Home

In our tech-driven world, electronic devices have become indispensable. But with constant upgrades, what happens to the old gadgets? They tend to pile up and eat up...