90% of managed service providers (MSPs) suffer successful cyberattacks. It means that MSPs must adapt swiftly to protect their clients’ diverse environments in this evolving landscape. 

This article explores best practices in cybersecurity, offering guidance for effective security management. Here, we delve into the challenges and strategies that define today’s cybersecurity landscape for MSPs.

The cybersecurity landscape for MSPs

MSPs are up against a constantly changing threat landscape in 2023. They also face challenges in protecting diverse customer setups.

Cyber threats are becoming more sophisticated. Techniques like ransomware, phishing, and social engineering are more common, posing challenges for MSPs.

Adding to these problems, MSPs now manage an increasing number of endpoints, networks, and cloud environments. This growth in attack surfaces makes client systems more vulnerable to infiltration.

Moreover, standardizing security best practices is also a significant hurdle for MSPs. They serve clients with different security maturity levels, leading to complex setups.

MSPs often need deeper insight into their clients’ internal systems. This lack of visibility can make identifying and fixing security issues challenging. Handling multiple clients, they rely on direct, clear alerts rather than checking each client’s performance individually.

Resource and talent constraints are another significant issue for MSPs. Balancing growing cybersecurity demands with limited resources is a constant challenge.

Finally, training and education for MSP staff can be inadequate. This makes it hard for them to recognize and react to new cyber threats effectively. To sum up, MSPs must stay flexible and resourceful to handle these complex security challenges.

Emerging trends in MSP cyber security

In 2023 and 2024, MSPs face new trends from the rise of remote work and cloud adoption. These trends expand their responsibilities and make it more difficult to secure diverse client environments. Cyber threats like ransomware and zero-day attacks are increasingly targeting businesses. As IT and operational technology (OT) systems come together and the need for cybersecurity skills and tools increases, we clearly need better protection strategies.

As MSPs navigate these trends, the importance of staying ahead with up-to-date technologies and skilled professionals becomes clear.

Cybersecurity breaches in MSPs

1. November 2023 CTS cyberattack impacted UK law firms: in November 2023, CTS, a prominent MSP for law firms in the UK, experienced a severe cyberattack, causing service outages for many law businesses. The details of the attack, including the extent of impact and data access, remained undisclosed.

2. BOLDMOVE malware targeted European Government and African MSP: in October 2022, a China-nexus threat actor used BOLDMOVE malware to exploit a Fortinet FortiOS SSL-VPN vulnerability. The primary targets were a European government and an African MSP.

3. Kaseya’s data breach affected the global MSP supply chain: in 2021, Kaseya suffered a supply chain ransomware attack via a vulnerability in its VSA software. This attack affected MSPs and their clients globally, showing the extensive impact of supply chain vulnerabilities. The FBI briefly described it as a supply chain ransomware attack. The ransomware, disguised as a fake software update, spread rapidly, encrypting not only MSPs’ systems but also their clients.

MSP best practices for cybersecurity

In the dynamic world of cybersecurity, MSPs play a vital role in protecting clients’ IT infrastructure and data. MSPs need a comprehensive cybersecurity strategy to maintain their reputation and effectively safeguard clients. This strategy should include proactive measures, continuous monitoring, and swift incident response.

It’s also vital for MSPs to educate their clients about cybersecurity. Often, they might not understand the significance of cybersecurity services or fully recognize the risks of cyberattacks. That’s why, part of an MSP’s job is to help clients understand cybersecurity better and encourage them to be proactive about it.

Strong IAM implementation

Implementing strong identity and access management (IAM) solutions is crucial. It ensures that only authorized individuals access sensitive systems and data. MSPs should use multi-factor authentication (MFA) for all accounts, limit access rights, and regularly review permissions.

Regular vulnerability scanning

Vulnerability scanning is key to identifying potential weaknesses in business software and systems. Timely patching addresses these vulnerabilities, reducing breach risks. Hence, MSPs need to establish and maintain a routine for regular scanning and patching to keep all business systems updated.

Data loss prevention

Data loss prevention (DLP) tools are essential in monitoring and controlling data flows. Just like their name hints, these tools prevent unintentional or intentional data leaks. MSPs should use DLP methods to protect sensitive information like personal data and intellectual property.

Enhanced endpoint security

Endpoints, such as computers and mobile devices, are common cyberattack targets. MSPs must implement security strategies that include antivirus, anti-malware, and patch management. Central management of these services ensures consistent protection across all devices.

Cybersecurity employee training

Educating employees about cybersecurity best practices is crucial. It helps prevent human errors, a major cause of data breaches. MSPs should regularly train their staff on phishing, password security, and social engineering. Plus, creating a culture of cybersecurity awareness in the workplace is key for ongoing protection.

Network segmentation and micro-segmentation

Network segmentation involves dividing networks into smaller, distinct sections. Going a step further, micro-segmentation focuses on isolating individual devices or applications. Both play a crucial role in today’s cybersecurity landscape. By implementing network segmentation solutions, MSPs can effectively minimize the impact and reach of cyber attacks, enhancing overall network security.

Incident response planning

Having an incident response plan is crucial for MSPs. These plans detail actions to take during a cyberattack. MSPs should develop, test, and refine these plans to ensure effective response and mitigation of security incidents.

Security posture assessment

Regularly assessing the MSP cybersecurity posture is about evaluating and improving current security measures. MSPs should conduct these assessments routinely to stay ahead of new threats and update their security strategies as needed.

Collaboration with expert cybersecurity firms

MSPs gain significant advantages by partnering with specialized cybersecurity firms. These companies offer expert guidance and support with complex security projects, other services, and training and resources for MSP staff.

Scalability and flexibility in cybersecurity

As managed service providers (MSPs) grow and take on more clients, scaling their cybersecurity practices becomes a key focus. They must balance security measures with efficiency, ensuring their security infrastructure meets increasing business demands.

Here are essential strategies for MSPs to scale their cybersecurity effectively:

• Embrace SaaS-based security solutions: cloud-based security strategies adapt to the MSPs’ growing needs. They eliminate the need for physical infrastructure, easing deployment and maintenance.

• Establish clear security roles and responsibilities: clearly defining roles ensures effective task distribution and accountability in cybersecurity. It helps maintain security standards as the managed service provider grows.

• Continuously monitor and adapt: in real-time, continuous monitoring tools detect and address threats. This proactive stance keeps MSPs ahead of emerging cyber threats.

• Regularly assess and refine security policies: regular assessments of security posture help identify improvement areas. Adapting policies and procedures keep pace with evolving threats and best practices.

How NordLayer can assist MSPs in cybersecurity

If MSPs need a trustworthy cybersecurity partner, NordLayer is a great option. It provides a full range of solutions to protect networks and cloud resources. NordLayer is also easy to use and effective, helping businesses stay safe from online threats. It enhances cybersecurity for MSPs with these key methods:

1. Network & resource access management: NordLayer applies Zero Trust principles for secure access to cloud and on-premise resources. It ensures fast access through encrypted tunnels and network segmentation, allowing authorized users exclusive access.

2. Internet access security: the platform uses advanced encryption to protect data exchanges. It safeguards business data, supports global operations, and maintains privacy. Additionally, it blocks harmful websites and offers web content filtering.

3. Compliance management: NordLayer helps MSPs meet compliance standards such as GDPR, HIPAA, and PCI-DSS. It offers high-level IT security management and ensures data processing compliance, which is particularly beneficial for healthcare providers.

4. Simplicity & flexibility: the platform’s clear interface makes adding teams from around the world easy. The Service Management Portal streamlines client onboarding and team organization for MSPs. The platform adjusts to suit each company’s or team’s specific requirements.

Case study: TEKRiSQ

TEKRiSQ, a unique managed service provider, performs rapid risk assessments and delivers quick solutions. NordLayer’s simple onboarding process for secure remote network access aligns well with their business and service objectives. Even for non-technical users, the setup is easy and takes only a few seconds.

TEKRiSQ values NordLayer for its activity reporting, which is essential for monitoring client system usage. This feature helps enforce service use when necessary. Additionally, NordLayer’s extra security layers, like dedicated IP for network protection, are vital yet often unnoticed by clients. These measures enhance business security beyond standard firewalls or VPNs.

Would you like to deliver superior, quickly deployable, and user-friendly strategies to your clients? Join us as a NordLayer partner.

As the world leans more into remote work and hybrid models, the urgency to maintain security grows. In this environment, security teams face new security risks and must navigate challenges like ensuring secure access and protecting sensitive data. Using personal devices and home Wi-Fi networks at work amplifies these challenges, especially when employees use them.

This article will explore key strategies, focusing on the best countries for remote work, the importance of doubling down on network security, and tips to strengthen your team’s cybersecurity muscle. The content is based on the NordLayer × SoSafe November 29 webinar, available for free viewing for more insights on securing a business.

Best countries for remote work

First off, remote working isn’t a one-size-fits-all; different countries offer varied experiences. At NordLayer, we’ve sifted through 108 countries, assessing them on cyber safety, economic stability, digital and physical infrastructure, and social safety. This analysis has revealed some top picks for remote workers.

5 key insights into remote work destinations

• Northern Europe is a clear leader in the top 10 for remote work, with Spain (4th) and Portugal (6th) as notable exceptions.

• Broadly, Europe takes the lead in the top 50, though Montenegro (74th), Bosnia, and Herzegovina (83rd) fall behind.

• For value-for-money, Portugal (6th) emerges as a standout choice.

• Interestingly, major English-speaking countries don’t make the top 10, with the USA (16th), Canada (14th), the UK (19th), and Australia (25th) ranking lower.

• Cyber and social safety are consistent indicators of a good remote work environment.

Cybersecurity plays a crucial role in these rankings. Countries that lead in remote work security, especially in Northern Europe, boast robust cybersecurity infrastructures. This includes top-notch network encryption and secure Wi-Fi networks, essential for remote workers.

Why and how to double down on network security

In 2023, phishing attacks hit hard, accounting for 95% of the causes of all data breaches. This highlights the growing severity of security breaches and data risks in our increasingly digital world.

In this remote and hybrid work era, robust network security is more important than ever. With employees scattered in various locations, a strong, fortified network is key to protecting not just corporate data but the very manner in which we work.

Secure remote access

Begin by securing remote network access. Technologies like VPNs, secure login methods, and access controls are crucial. They create a secure digital boundary, crucial for protecting your operations in a remote work setup. These tools are the first line of defense against potential security risks.

Ensure endpoint security

Securing endpoints—laptops, mobile devices, and home computers—is also vital. Equip these devices with the latest internet security software. This step is essential in safeguarding against unauthorized access and potential security breaches that can originate from vulnerable personal devices.

Invest in employee training and awareness

Finally, employee education is critical. Regular training sessions and cybersecurity drills play a significant role in enhancing your team’s awareness of security risks. By keeping your workforce informed and vigilant, you can significantly reduce the risk of security incidents.

Experts in our webinar underscore the changing nature of cyber threats, with cybercriminals increasingly employing psychological tactics. Thus, continuous monitoring and a robust incident response plan are crucial.

For a deeper understanding of network security and more expert insights, access our detailed webinar. It’s a crucial step in strengthening your remote work environment against the ever-evolving security risks.

Cloud firewalls and Firewall-as-a-Service

Cloud firewalls offer an effective solution for businesses operating in hybrid and remote environments. Take NordLayer’s Cloud Firewall as an instance: it sets rules based on user identity, traffic destination, such as a local server or cloud resource, and access methods, including ports and protocols.

For a deeper understanding of Cloud Firewalls and Firewall-as-a-Service, our free webinar provides comprehensive insights.

Strengthening cybersecurity in teams: taking security threats seriously

The stark reality of security threats

Home-office cyber-attacks in Germany cause over €50 billion in damages annually. This staggering figure highlights the reality and severity of security threats in the modern digital world. Moreover, data security incidents cost, on average, $4.42 million, with remote work adding an extra $1.07 million.

Building a robust cybersecurity culture

Despite these risks, only 38% of organizations secure work devices connected to the company network. This gap underscores the need for a stronger cybersecurity culture within teams. Over 90% of IT and cybersecurity experts agree on the importance of awareness, yet 40% of organizations report very low employee awareness levels.

Practical steps to enhance cybersecurity

To address this, businesses must adopt simple, effective cybersecurity practices. Regular software updates, secure access management, and educating employees about phishing and malicious behavior are crucial. Implementing multi-factor authentication can significantly bolster remote work security. Such measures foster resilience and a proactive stance against cyber threats.

Leveraging technology and continuous learning

Adopting behavioral science principles, such as positive reinforcement, can drive secure behavior. Continuous learning and expanding the scope of cybersecurity knowledge are essential for teams. Remember, strong cybersecurity habits benefit both private and work life.

Addressing security gaps in the remote work environment

Tackling security breaches and data breaches

As remote and hybrid work models become more prevalent, data breaches have become a more significant concern. It’s vital to review and update security settings regularly to prevent such incidents. A robust approach to detecting and addressing security gaps, especially in unsecured Wi-Fi networks, is essential for protecting sensitive information.

Secure home Wi-Fi networks

With many employees working remotely, the security of home Wi-Fi networks is more crucial than ever. Encourage employees to strengthen their home network’s security, emphasizing the importance of using secure and unique passwords and staying vigilant against unauthorized access.

In summary, managing cybersecurity in a hybrid and remote work environment requires a comprehensive approach. Balancing security with usability is key for businesses. Encouraging users to stay aware and use systems and services that protect personal and corporate data is important. It’s essential for organizations to manage their network and devices effectively.

To learn more about how to manage these challenges and keep your business secure, watch our webinar. It offers practical advice and expert insights to guide you through the complexities of hybrid work and remote work security.

As we navigate through the rapidly evolving landscape of cybersecurity in 2024, it’s crucial to recognize the dynamic nature of cyber threats. Gartner forecasts that worldwide end-user spending on security and risk management will reach $215 billion in 2024, a 14.3% growth from 2023. This investment reflects the increasing complexity of digital risks. 

We explore the top 10 cybersecurity trends, each of them presents unique challenges and requires nuanced responses from cybersecurity professionals.

Key takeaways

• Global cyber conflicts are escalating rapidly.

• Data breaches in healthcare are increasing.

• Remote work brings new security challenges.

• Human error is the main reason for cybersecurity breaches.

• Ransomware attacks require better response strategies.

Cyber warfare: an evolving threat in cybersecurity

In 2024, cyber warfare mirrors global tensions, growing in sophistication.

Russian cybercriminals disrupt Ukrainian and European supply chains, impacting aid delivery. A new group, “Cyber Toufan,” believed to be backed by Iran, attacked Israeli companies.

The U.S. grapples with cyber threats from Chinese state-linked threat actors. They have infiltrated about 25 organizations, including U.S. government agencies. Such cyber strikes demonstrate the growing scope of state-sponsored cyber-attacks and emphasize the need for robust cyber defenses.

Impact on the 2024 presidential elections

In the 2024 presidential elections, the shadow of past cyber intrusions looms large. The 2016 election was marred by Russian state-sponsored cyber-attackers who stole and leaked emails from the Democratic National Committee (DNC) and Hillary Clinton’s campaign chairman, John Podesta.

The trend persisted into 2020, when Fancy Bear, the Russian military intelligence-linked unit involved in the 2016 breaches, attempted to gain access to accounts of both Republican and Democratic political consultants, advocacy organizations, and think tanks. Although a specific attack on a Democratic presidential candidate’s advisory firm was thwarted, these incidents signal potential risks for the 2024 elections.

Healthcare sector vulnerabilities

The Health Insurance Portability and Accountability Act (HIPAA), established in 1997, sets strict rules for patient data protection in the healthcare sector. Despite this, healthcare continues to face significant cyber threats.

Recent trends in healthcare cybersecurity show both challenges and progress. The breaches, often due to unauthorized data access, underscore how vulnerable the sector is to cyber-attacks. In 2022, the U.S. healthcare sector saw 344 data breaches. By October 2023, this number decreased to 69 cases, a decline from the peak in 2015.

The consequences of these cyber-attacks are profound. They not only cause financial and reputational damage but also affect patient care. Recent data links ransomware attacks to higher mortality rates and longer hospital stays.

The high cost of health data breaches

From March 2022 to March 2023, the healthcare industry faced the highest costs for data breaches. On average, each breach cost nearly 11 million U.S. dollars. The financial sector ranked second in comparison, averaging 5.9 million U.S. dollars per breach. Across all sectors, the global average data breach cost was 4.45 million U.S. dollars.

Cybersecurity challenges in the hybrid work environment

In the hybrid work model, several cybersecurity risks are evident. The introduction of various devices and networks expands the potential for cyber threats. Limited control over remote workers and workspaces makes securing devices a challenge. Using public Wi-Fi, especially when traveling, increases exposure to cyber-attacks. Additionally, working across borders can lead to compliance issues with different data privacy laws.

Despite these risks, the shift towards hybrid work persists, making it essential for companies to enhance their cybersecurity strategies to navigate the changing environment.

Generative AI: a new frontier in cyber threats

Generative artificial intelligence, particularly in the form of deepfakes, has emerged as a novel threat in the cyber world.

In August 2023, Mandiant, a cybersecurity firm owned by Google, reported a groundbreaking discovery. They found deepfake video technology being explicitly crafted and marketed for phishing scams. Remarkably, the cost for these deceptive tools was minimal: $20 per minute, $250 for an entire video, or even $200 for a training session.

This development signals a trend in the cybercrime landscape, where advanced artificial intelligence becomes a tool for fraud at surprisingly low prices. This marks a new challenge in cybersecurity.

Supply chain attacks: a growing concern

In June 2023, a North Korean cybercriminal group breached JumpCloud, a SaaS provider, targeting cryptocurrency companies. A report by Chainalysis states that North Korean-linked groups stole about $1.7bn in digital cash through multiple attacks last year.

Supply chain attacks have surged, with a 633% increase in 2022 alone, becoming a prominent part of cybersecurity trends. Factors driving this trend include complex, global supply chains and the sophistication of cyber-attacks.

Cloud security and the threat of cloud jacking

Cloud jacking, where attackers hijack cloud accounts, surged in 2023. Cybercriminals exploited cloud vulnerabilities, used phishing or stolen credentials. Once inside, they could steal data, plant malware, or disrupt services. The growing reliance on cloud services widened the potential for such attacks.

Key trends in 2023 included more frequent attacks on SaaS applications and increased automated scanning for cloud weaknesses. Ransomware became a favored tool, locking organizations out of their own cloud data. In 2022, API security lapses contributed to the risks, with a 286% increase in API threats and 34% of organizations without a strategy to protect APIs, leaving 91% of APIs exposed to data theft.

Double and triple extortion

The trend of double and triple extortion in cybercrime has escalated. Techniques combining encryption, data theft, and DDoS attacks are more frequent. Data exfiltration is on the rise, with an increase from 40% in 2019 to 77% in 2022, with 2023 on course to surpass 2022’s total. With this upward trajectory, 2024 is likely to see a continuation of these cyber extortion tactics.

Social engineering and user privacy: the human factor

The human element is a significant factor in cybersecurity incidents, with 95% of breaches attributed to human error. This makes it not only a common issue but also a costly and serious one.

In 2023, several major security breaches occurred due to human errors. On January 11, 2023, MailChimp employees fell victim to social engineering by an external party, affecting 133 customers. This incident involved WooCommerce, a widely-used eCommerce plugin for WordPress, leading to the exposure of customer names, store URLs, and email addresses. MailChimp responded by restricting access and informing those affected. They assured that no credit card or password information was compromised. However, the breach highlighted the risk of potential phishing attacks aimed at obtaining credentials or introducing malware.

Ransomware threats: evolution and response

In 2023, ransomware attacks continue to threaten organizations, with attackers demanding payment to decrypt critical data. The impact is growing; U.S. healthcare organizations faced an average downtime of 18.71 days due to these attacks, up from 16 days in 2022. This underscores the evolving nature of cybersecurity trends in ransomware.

The rise of mass ransomware attacks

This year also witnessed a surge in mass ransomware attacks, with ransom-as-a-service groups exploiting software vulnerabilities to target numerous companies simultaneously. Notable incidents include the MOVEit and GoAnywhere software breaches, affecting hundreds of companies. Such widespread cyber-attacks signal a significant challenge for the cybersecurity and insurance sectors, potentially changing the industry’s approach to risk assessment and claims management.

Advancements in Zero Trust security

In the context of current cybersecurity trends, a positive development is also emerging. Zero Trust security, once a strategic goal, is rapidly becoming standard practice. By 2026, it’s expected that 10% of large enterprises will fully implement mature Zero-Trust programs, a significant rise from less than 1% currently.

Implementing Zero Trust is complex, requiring the integration of various components. The key to success lies in demonstrating its business value. Beginning with a simple, scalable approach allows organizations to progressively understand and adopt the framework, managing its complexity step by step.

Strategies for business safety in 2024

1. Use multi-factor authentication (MFA) to regulate network access.

2. Add extra authentication factors for administrative accounts.

3. Assign minimal user privileges in line with Zero Trust principles.

4. Secure remote devices with VPNs.

5. Require strong, regularly-changed passwords.

6. Encrypt all high-value data.

7. Use data loss prevention (DLP) tools to track valuable data.

8. Use intrusion detection systems/intrusion prevention systems (IDS/IPS) to track threats in depth.

9. Back up data regularly.

10. Audit backups and threat responses to ensure quick disaster recovery.

11. Regularly test your security systems.

12. Risk assess core threats and create response plans.

13. Train all staff to detect phishing attacks.