Inside the Ransomware Economy: Why SMBs Are in the Crosshairs

Explore how ransomware became big business, why SMBs are most at risk, and practical steps to boost cyber resilience in this expert-led deep dive.In this episode of Beyond the Horizon, host Pete Roythorne sits down with Kevin O’Connor, Director of Threat Research at N-able, to explore the shifting landscape of ransomware. What began as opportunistic attacks has evolved into a sophisticated business model, and SMBs are now the most attractive targets. Kevin shares insights from years in cybersecurity – including stints at the NSA and CrowdStrike – on why attackers are scaling down to smaller businesses, how ransomware-as-a-service has lowered the barrier to entry, and why misconceptions about risk still persist.The conversation covers the economics driving ransomware, the rise of AI-powered social engineering, and the tactics attackers use to stay under the radar. Kevin also offers practical advice for SMBs: from employee training and policy enforcement to planning for worst-case scenarios. Finally, we look ahead at what could disrupt the ransomware economy and restore the balance in favour of defenders.Topics CoveredEvolution of ransomware from random attacks to organised crimeWhy SMBs are prime targetsRansomware-as-a-service and the crime supply chainDeclining ransom payments—what’s behind the trend?AI-driven social engineering and phishingCommon SMB security mistakesEffective defences and resilience strategiesThe role of law enforcement and global policyFuture outlook: quantum cryptography and beyondDisclaimer: This podcast provides educational information about issues that may be relevant to information technology service providers. Nothing in the podcast should be construed as any recommendation or endorsement by N-able, or as legal or any other advice. The views expressed by guests are their own and their appearance on the podcast does not imply an endorsement of them or any entity they represent. Views and opinions expressed by N-able employees are those of the employees and do not necessarily reflect the view of N-able or its officers and directors. The podcast may also contain forward-looking statements regarding future product plans, functionality, or development efforts that should not be interpreted as a commitment from N-able related to any deliverables or timeframe. All content is based on information available at the time of recording, and N-able has no obligation to update any forward-looking statements. https://www.n-able.com

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