Managed Service Providers (MSP) deliver customers with IT security services and are now finding themselves at the center of attention as cybercriminals are increasingly focusing their attacks on this vital industry.  Though this is a security challenge for MSPs, it also presents an opportunity for them to prioritize internal security protocols to better protect themselves and their clients.  

Why do cybercriminals attack MSPs?

IT service providers are an attractive target for malware attacks because they have limitless access to their clients’ systems and data.  A single breach into their network can impair the operations of hundreds of clients that depend on that service provider.  With the amount of data that can be stolen, cybercriminals can demand a larger ransom.    

Steps MSPs take to stay safe against ransomware attacks

Firms should ensure their MSP take these steps to stay one step ahead of cybercriminals.  

1. Enable 2 Factor Authentication (2FA). 2FA helps prevent criminals from accessing secure data.  2FA requires a username and password plus one other method of authentication, such as answering a question or inputting a token, to confirm the user’s identity.  MSPs should activate it on all systems, such as software platforms and end-user systems.
2. Secure Endpoints. Endpoints serve as points of access to a company’s network and create points of entry that can be exploited by cybercriminals.  Ensuring MSPs have endpoint security software will protect these points of entry from malicious attacks. 
3. Boost Employee Training and Awareness. MSPs should increase employee training and awareness regarding cybersecurity and also extend this education to their clients.  As working from home is now far more rampant due to the COVID-19 pandemic, MSPs should ensure consistent virtual trainings.  
4. Create a MSP Documentation Platform.  An MSP documentation platform serves as a repository for an MSP’s plans to ensure data protection, a cybersecurity process in case of an attack, and a disaster recovery plan.
5. Off Site Backups. An effective backup system is crucial for all MSPs. Investing in a cloud service that backs up your data to a highly-secure location outside your office is vital. 
6. Stay informed. Receiving and listening to U.S. Department of Homeland Security Alerts is very important to stay up-to-date with any cyber news that may be trending, which may include new security protocols or a new malware attacks.  

Our Premium Defense Service offers additional security to anticipate and prevent cyberattacks.  For more information, send us a message or call 212.252.0571.