Chris Swagler | July 18th, 2022

Virtually all personal and business data is stored on internet-connected platforms given the growing dependence on technology in everyone’s lives. While convenient and efficient for users, this has created a gold mine for threat actors. To keep user and business information secure is vital to emphasize optimal security practices and concentrate on general cyber hygiene. According to the National Cyber Security Alliance (NCSA) and the Cybersecurity and Infrastructure Security Agency (CISA), organizations can be cyber-savvy by enforcing fundamental cybersecurity best practices, including using multi-factor authentication, creating strong passwords, backing up company data, and updating software with the most recent patches. Numerous managed service providers (MSPs) with experience in cloud-based security services identify a range of challenging issues from user education, the rise of remote work, recruiting and maintaining security talent to business continuity, ransomware response, and supply chain attacks.

Breaches and Business Continuity

There are several challenges facing MSPs on this front, particularly with customers’ resources and maintaining the pace with technological advancement, digital transformation, and modernization. Ransomware and data breaches are the primary concerns for security experts and companies. Top-level leadership and advisory boards are aware of the issue because of the abundance of cyberattacks presented in the media. This is problematic and does security harm by spreading fear, uncertainty, and doubt.

Companies need to take a step back and create a security strategy from their infrastructure design to ensure visibility and coverage across their ecosystem (internal and 3rd party), including having the right tools for cybersecurity and avoiding complacency.

Furthermore, many companies don’t consider cybersecurity part of their business continuity plans if an incident occurs. Cybersecurity needs to be included, particularly understanding the ground game and the playbooks to be deployed in the event of a breach by threat actors. Having ownership regarding who makes what decisions during an incident can include what systems and networks to shut down, how to navigate potential legal and public relations fallout, client engagement, assessing how long companies can continue to operate, and who needs to be called for remediation of the event.

Ransomware Protection and Response

One of the biggest challenges continues to be preventing and responding to ransomware. Attacks on data using cryptography make it easier for threat actors to achieve their goal of receiving ransom payments and have made the utility of encrypting data simpler. Many of the initial techniques for bypassing security measures remain. The only option if an initial compromise is successful, is to pivot and elevate using encryption, which creates persistence and prevents exfiltration. The time clients have to defend themselves is inevitably reduced if the steps were cut out. The threat landscape continues to evolve and provides new ways for first attack vector. Even though defenders need to devise strategies to prevent all known and unknown entry points, threat operators only need to find one.

Quickly and Effectively Respond to Attacks

Even though most companies are aware they need cybersecurity, the challenges MSPs face are unique to their clients’ size, industry, staff skills, and the companies’ security maturity. The ability to swiftly and successfully react to certain forms of cyberattack to minimize the damage is a common challenge. The increasing prevalence of remote work has increased these challenges as employees no longer connect using secure networks inside their offices. Companies need to take extra precautions to stay protected.

Increase In Sophisticated Attacks

For clients, the rise in sophisticated attacks combined with the inability to effectively combat them can create a cybersecurity challenge for clients and keep boardroom executives up all night. Because concentrating on the actual business operations is a priority, it becomes difficult to keep up with technologies and tools that can bypass sophisticated attacks. Threat operators have access to more advanced tools by the time companies implement newer, stronger solutions to defend against past attacks.

With MSPs and their clients depending on technology and facing numerous cybersecurity challenges, it’s always critical for them to remain aware of the current threat landscape, regularly update data network security software, and keep network data backups off-line. At SpearTip, we specialize in assisting MSPs with protecting themselves and their clients against costly cyberattacks. With our pre-breach advisory services, MSPs can upsell security offerings and our experience to improve their clients’ operational, procedural, and technical control gaps based on security standards. SpearTip offers an all-in-one cybersecurity solution that allows MSPs to focus on their clients’ core IT objectives while providing industry-leading protection against malicious threats. ShadowSpear, our future-proof detection and response platform, is built to protect MSPs’ business and their clients and continuously monitor partners’ networks to quickly identify, neutralize, and counter any irregular activities.

If your company is experiencing a breach, call our Security Operations Centers at 833.997.7327 to speak directly with an engineer.