MSP – Managed Service Provider can be defined as a third-party business providing services to manage its client’s IT infrastructure and systems remotely. To provide services seamlessly, Managed Services Providers are required to gain access to clients’ systems, data, and information (user locations, infrastructure, IT structure, and network). A cyber security breach can expose clients’ data and compromise the system’s security.
The cyber security of a managed service provider is connected with that of its clients, highlighting the significance of a cyber-security defensive strategy for MSPs.
Consequences of a cyber-security incident on the MSP network.
- Loss of Reputation: A data breach can result in a loss of client trust, which can be a big blow to the business.
- Loss of Business: Loss of trust and reputation can provoke some clients to stop doing business with the MSP and shift to a new service provider.
- Financial Loss: Loss of clients causes financial loss for a managed service provider. Additionally, the business has to spend financial resources on restoring its systems and network and might be required to pay legal penalties associated with the mishandling of client data.
Best practices and defense strategies for MSPs:
- Manage Vulnerability: Ensure that client systems and networks are routinely scanned and tested to detect obsolete systems and identify areas that require updates or patches. Vulnerability management aids in the prevention of zero-day attacks by stopping cybercriminals from obtaining access and exploiting vulnerabilities.
- Threat Detection: Firewalls and intrusion detection systems are crucial for detecting threats. They aid in identifying and blocking potentially hazardous traffic using advanced settings.
- Preventing Targeted Attacks: Some common examples of targeted attacks against Managed Service Providers include password spraying, brute force attacks, and phishing. These targeted attacks can be avoided by encouraging users and employees to practice password and internet usage recommendations.
- Zero Trust Model: A zero trust model bases authorization on carefully examining each access request. Additionally, to stop the lateral spread of the attack, the organization’s network should be divided, and components should be independent of each other.
- Streamlined Offboarding: Offboarding process refers to removing accounts and tools that will not be used by the organization in the future. These may include accounts of employees leaving the organization. It is important to delete shared accounts and revoke access of transitioning employees. Organizations should perform regular audits to detect any dead accounts or network ports.
- Backups: MSPs should maintain regular data backups and encourage their clients to do the same. This helps maintain business operations by restoring the data and infrastructure in case of a cyber-attack or data breach.
To know more about cyber security defense tips for MSP businesses, contact Centex Technologies. You can contact Centex Technologies at Killeen (254) 213 – 4740, Dallas (972) 375 – 9654, Atlanta (404) 994 – 5074, and Austin (512) 956 – 5454.