Mitigation Measures MSPs Need to Implement for Ransomware Prevention

 

Chris Swagler | May 19th, 2022Ransomware threats are real and growing. It’s essential to choose a cybersecurity company that can assist with mitigation measures to minimize the risk to protect Managed Service Providers (MSPs) and their clients. With new ransomware variants appearing regularly and new attacks occurring daily, an alliance with a cybersecurity company with robust security programs is essential for MSPs. Helping their clients with mitigation measures to minimize the risk of ransomware attacks is the most important responsibility of an MSP. MSPs should follow a comprehensive security program.

Mitigation Measures MSPs Should Follow

1. Continuously Monitor Networks and Systems for Signs of Anomalous Activity:

MSPs must constantly monitor their clients’ networks and systems for any signs of unusual or suspicious activity. This can be accomplished using automated tools and manual security analyst reviews. For example, an MSP notices the files on one client’s system are being encrypted, which can be considered suspicious activity. The MSP should analyze the incident and determine if it was a ransomware attack or not. The SpearTip ShadowSpear Platform is an unparalleled resource for MSPs that prevents cyber threats and attacks from impacting businesses. Backed by our 24/7 SOC, the ShadowSpear Platform identifies, neutralizes, and counters malicious activity before it gains an environmental foothold

2. Using Advanced Security Technologies:

MSPs need to use advanced security technologies to detect and prevent ransomware attacks. Next-generation firewalls, intrusion detection and prevention systems, and email and web filtering are among the technologies. If an MSP client is the target of a ransomware attack, these advanced security technologies, all of which are features of ShadowSpear, will be able to detect and prevent the attack from causing damage.

3. Develop and Implement a Security Program to Protect Against Ransomware:

MSPs need to create and implement a comprehensive security program to protect their clients against ransomware. The following need to be included in the security program:

A Robust Firewall and Intrusion Detection and Prevention System:

A strong firewall and intrusion detection and prevention system is the first line of defense against any attack. The systems can detect and block suspicious activities, including unauthorized access attempts and malware infections.

Email and Web Filtering:

Email and web filtering are two essential elements of a security program, which prevent ransomware from being sent to users through email or downloaded from malicious websites.

Educating Users About Ransomware Threats:

Educating users about ransomware threats is essential. They can protect themselves through training programs, security awareness posters, and email notifications. MSPs can assist their clients in limiting the risk of ransomware attacks by implementing a thorough security program.

4. Having a Plan to Respond to Ransomware Attacks:

MSPs need a plan to respond to ransomware attacks, which should encompass several important elements. To ensure that your organization has a thorough and effective incident response plan in place, it is highly recommended to utilize advisory services from a trusted cybersecurity partner, like SpearTip, who can ensure all facets of a strong plan are in place:

Identify the Attack Scope:

Identifying the attack scope involves determining the number of systems affected and the type of data that was encrypted. Once having identified the attack impact, it’s vital to next isolate the impacted endpoints, servers, and other systems so lateral movement is limited.

Restoring Backups:

Once the attack scope is discovered and impacted systems have been isolated, the next step is restoring any encrypted data from backups. It’s important that this occurs as soon as possible to reduce data loss and limit organizational downtime.

Contact Law Enforcement:

It’s critical to contact law enforcement if the ransomware attack is severe. This will help law enforcement with the investigation and provide guidance on how to proceed.

Paying the Ransom:

Paying the ransom may be the only option to recover the encrypted data. This needs to be the last resort after speaking with law enforcement and should be done by a trained, experienced negotiator, giving your business the best chance of recovering all critical data. MSPs need to have a plan in place to deal with ransomware threats. The plan needs to include restoring from backups, contacting authorities, and only paying the ransom as a last resort.

5. Review and Update Security Procedures Regularly:

It’s necessary for MSPs to regularly review and update their security procedures to ensure they’re effective against the latest threats. MSPs need to review their protocols for backing up data, restoring from backups, updating their security technologies, and training their employees to use them. MSPs need to review and update their security protocols, including reviewing their policies of backing up data, restoring from backups, and updating their security technologies, on a regular basis to ensure they’re effective against the most recent threats. Cybersecurity companies play an essential role in assisting MSPs in protecting their clients against ransomware attacks. Using robust security technologies, developing and implementing a comprehensive security policy, and educating employees about cybersecurity allow MSPs to assist their clients with mitigation measures to minimize the risk of ransomware attacks. It’s important for MSPs to partner with a reputable cybersecurity company like SpearTip that can provide the necessary protection against increasingly sophisticated threats. By incorporating SpearTip’s pre-breach risk services into their current catalog, MSPs can upsell their security offerings. SpearTip’s extensive experience gained through thousands of security incidents improves their clients’ operational, procedural, and technical control gaps based on security standards. We offer an all-in-one cybersecurity solution that allows MSPs to focus on their clients’ core IT objectives and provide industry-leading protection against ransomware threats. If your company is experiencing a breach, call our Security Operations Centers at 833.997.7327 to speak directly with an engineer.