Security
PERFECTING THE BASICS
Mostyn Thomas, senior director of Security EMEA at Pax8 explores the basics of MSP cybersecurity.
C
ybercrime is a global business, and everyone is vulnerable. According to a UK Govt Report, UK businesses have experienced
approximately 7.78 million cybercrimes of all types and approximately 116,000 non-phishing cybercrimes in the last 12 months. While MSPs might offer cloud and cybersecurity
solution services to their customers, they are proving to be a popular target for cybercriminals themselves. Once inside an MSP’s system, hackers can gain access to an extensive volume of client data. Furthermore, gaining unwarranted access to highly sensitive data, such as financial and business information, makes an MSP a lucrative prospect. For MSPs, keeping track of all possible cyber
risks can be overwhelming. Many focus their efforts on delivering unrivalled service and driving business growth for their customers but can oſten forget to master the basics of their own cybersecurity. Tis quickly leads to further problems, such as a lack of visibility towards
28 | July/August 2024
potential threats or being unable to identify and react to vulnerabilities that already exist within their networks. MSPs must implement fundamental cybersecurity measures that ensure the protection of their own data, and their customers’.
Rising complexity of cyberattacks Te frequency and strength of cyberattacks continues to rise and threats have evolved to become more dangerous than ever before. With access to vast amounts of data, this should be a primary concern for MSPs. When targeting MSPs, cybercriminals can leverage triple-threat ransomware: the organisation’s data is encrypted and withheld from the MSP; as with any typical ransomware attack, the attacker then threatens to release the MSP’s data to the public. However, the attacker also threatens to release the MSP’s client data to the public as well - a significant consequence that can be avoided with the right security measures.
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