Eliminate the cascading effects of MSP compromise that could harm your client’s goodwill and trust across a portfolio of them.

Your clients depend on you as a Managed Service Provider (MSP) to provide IT infrastructure and end-user systems for their priceless assets, confidential information, and intellectual property. MSPs frequently have the keys to the kingdom in the form of privileged access to their customers’ systems and servers since they are frequently seen as trusted consultants who complement their clients’ teams. With clients in all industry verticals, including retail, wholesale, regulated industries, and key infrastructure, MSPs are also essential participants in the global supply chain. If not properly handled, a compromise in one MSP might spread to other clients and organizations, setting off a domino-like chain reaction.

Here’s how to defend a Managed Service Provider from Cyberattack.

Why MSPs are the attractive target?

Attackers choose to target MSPs for one of two reasons: either to make a political statement or, more commonly, to gather priceless intelligence and private client information for their own use or to sell. With more than 35,000 MSPs worldwide, attackers have plenty of targets to choose from when looking for security flaws.

Vulnerabilities of MSP on 2019

Despite a recent DHS warning to MSPs about adversaries trying to penetrate service providers, the following industry events have occurred this year:

  • A California-based cloud and data center provider were targeted by the Ryuk ransomware, along with thousands of its clients.
  • A Norwegian-managed service provider with 850,000 clients worldwide was hacked by hackers, who exposed login information.
  • According to warnings from the Australian Cyber Security Center, threat actor APT-10 has attacked nine service providers in Australia (ACSC)

Protecting MSP’s Network and Assets with Strategic Approaches

  • Start at the Top – While security is a concern for everyone in the organization, demonstrating strategic commitment must begin at the very top. Consider matching your security investment to the existing business and technical risks because attackers are actively pursuing the MSP sector. No company is too small or immune.
  • Use a risk-based approach; MSPs should not treat business and technology risks in isolation. Prioritizing the most important and sensitive assets requires input from the whole business, including the IT and security departments.
  • Maintain Supply Chain Security – Your supply chain includes service providers like your CPA and your security services partner in addition to suppliers of hardware and software. Considerations related to supply chain security have an impact on customer success, vendor management, transportation, and quality.

Actions for MSP Security

  • Implement the fundamentals of cyber hygiene Network and computer cleanliness must be a part of an MSP’s daily operational routine, much like brushing your teeth. For instance, using encryption, patching, and backups might reduce your ransomware risks. Keep system access by supply chain vendors to a minimum and use strong passwords.
  • Keep an eye out for MSP-Specific Gaps: MSPs utilize Remote Monitoring and Management (RMM) tools and protocols, such as the Remote Desktop Protocol (RDP)
  • Consider Yourself a Hacker Using techniques like simulations and penetration testing, you may find security holes and strengthen strong security procedures. Examine your website and network architecture like an enemy would, searching for weaknesses at all points along the cybersecurity kill chain.

Along with protecting the operations and data of their clients, service providers must maintain an ever-vigilant and proactive security posture of their own. CYB3R- X has a track record of success helping MSPs with both strategic and tactical cybersecurity methods.