Vitali Kremez, CEO of Advanced Intelligence, talks to Risky Business about the impending downfall of the Ransomware-as-a-Service ecosystem, as major ransomware gangs are slowly moving to corporate hack-steal-extort-or-leak schemes, with no encryption involved.

In this conversations, Vitali explains how the proliferation of backup solutions in recent years and the broad-spectrum sanctions imposed on Russia following its invasion of Ukraine have “negatively” impacted the ransomware landscape, where groups are having a hard time getting paid by companies that either have backups or don’t want to break sanctions by accident.