Midland Technologies, a leading managed technology services provider (MTSP), has announced that the company has launched a Ransomware-as-a-Service program designed to protect small to mid-sized businesses from the burgeoning cyber-crime industry, according to a news release. 

Instead of a handful of isolated bad actors, cyber-crime is now “big business” with entire technology ecosystems supporting the acceleration of this industry, the release says.

Cyber-criminals can peruse a marketplace of highly sophisticated software tools, purchase these tools, select a payment plan (own, rent via monthly subscription or pay a licensing fee based on their usage of the tool) and even contact customer service personnel who are on standby, ready to offer technical support if they have questions when they deploy those tools, according to the release.

Consequently, cyber-crime as an industry is booming, the release says. This entire ecosystem of software developers, dark startups and licensors/licensees are propelling the growth of this industry illustrate just how far cyber-crime has come in recent years. Midland Technologies is actively informing businesses and educating them on how to step-up their defenses.

While the mainstream media has covered many ransomware attacks over the past few years, ransomware payments still are increasing at an alarming rate, according to the release. According to a report by Statista Research Department, in 2022, 71% of companies worldwide were affected by ransomware. Additionally, a survey of global IT professionals found, around 72% of the respondents paid the ransom and recovered the compromised data.

With 85% of data breaches involving human interaction (DARKReading), the first line of defense for many businesses is to provide cybersecurity awareness and defense training for employees. That way, they can minimize the amount of “human error” available for cyber-criminals to capitalize on.

Midland Technologies’s new Ransomware-as-a-Service program takes a different approach by aggressively restricting and pre-filtering phishing emails from ever reaching employee inboxes, in the first place. “The less exposure your organization has to human error the better,” said Jason Smith, vice president at Midland Technologies.

Jason Smith of Midland Technologies (contributed photo)

“With many business owners sending staff to work from home in response to the growth in remote working, they need to also address network security issues and ensure that employees are accessing company data through secure internet connections, firewalls and more. If you’re sending 35 employees to work from home, you need to approach the business like an enterprise would and start thinking that you now have 35 satellite company offices which need to be monitored, managed and secured.”

 ABOUT MIDLAND TECHNOLOGIES

Midland Technologies began more than 70 years ago in 1946 as the Worldwide Marketing Arm of Victor-Animagraph Projectors. In 1977 a communications division was formed due to a partnership with NEC America. Today, as a distributor of NEC America for 33 years, Midland Technologies has a customer base of more than 3,000 satisfied customers that include general businesses, government agencies, Universities, colleges, hospitals, and hotels.

Midland provides a wide range of communication services including VOIP, PBX and key systems, Wide Area and Local Area networking, computers, computer integration, voice mail, CCIS, and video conferencing and paging systems. For more information, call 563-326-1237 or visit here.