Adrian Johnson
TLDR:
Initial access brokers are cybercriminals targeting Australians, selling usernames and passwords to ransomware gangs. They have become a significant cybersecurity threat, costing the economy $29 billion a year. Access brokers streamline the cybercrime process by providing access to businesses for ransomware attacks. Australian businesses are urged to update security measures, not pay ransoms, and be cautious of fake apps.
In some ways, initial access brokers are similar to real estate agents, focusing on location, marketing, and stock, but instead of handing over keys, they commit crimes by selling access to ransomware gangs.
The federal government estimates that digital crime costs the Australian economy $29 billion per year, and a cybercrime report is made every six minutes on average.
Hacking has evolved into a more sophisticated operation due to access brokers, who specialize in providing access to businesses for ransomware attacks, enabling more attacks to occur as cybercriminals no longer need to develop all the skills themselves.
The cost for access to data on the dark web ranges from $1,500 to $15,000, with the number of access broker advertisements increasing by 147% in the past year, reflecting growing demand.
Australian businesses are advised not to pay ransoms to cybercriminals, keep security measures up to date, be open to assistance from cybersecurity experts, and update passwords regularly.
