CompuCom recently became the latest MSP hit by a cyberattack. The company estimates the attack will cost between $5 and $8 million in lost revenue and an additional $20 million in cleanup costs. For MSPs, any kind of security breach can have a significant impact on their business and customer trust. With threats on the rise, it’s time all MSPs take a close look at securing their infrastructure.
Malware, ransomware, and phishing attacks have increased dramatically over the last year. More and more they are targeting the service provider community. With teams working remotely, cloud computing, and an increase in IoT devices, it’s harder to secure a network perimeter with increasing endpoints. To protect an MSP’s infrastructure and reduce cybersecurity risks, consider these actions:
Leverage Multifactor Authentication – MFA should be used as an additional layer of security for all MSP systems. If you are not using MFA, now is a good time to consider it. With MFA, even if passwords are stolen, it’s unlikely that the hacker also has the phone and OTP generator. For MSPs that use shared accounts, consider a virtual MFA with access control using PAM software to store the authentication key as a record. This allows MSPs to enable MFA on shared accounts without worrying about who gets the token and who requested it.
Implement a Secure Access Gateway – If your workers are remote, they need secure access from home and multiple devices to perform their job. Outdated VPNs don’t have the advanced security and auditing capabilities required for MSPs. Implement a secure gateway that brokers access using HTTPS to specific resources. This way you can use your existing identity provider such as Active Directory (AD), AzureAD, Office365, Google Authentication, etc.
Automated Security Alerts – Security tools and privileged access management software can be set up to notify managers of suspicious activity. Alerts can be set up for when systems are accessed, changed, or when passwords are reset. You can also create alerts around what users are sharing, using, or how they are modifying records. This helps MSPs maintain control of their systems and data by identifying new accounts and potentially suspicious activity as it happens.
Principle of Least Privilege – Whether it’s general workers or IT admins, you want to implement the principle of least privilege. This ensures people only have access to the systems they need and no more. Again, PAM software and other identity management tools help MSPs implement a least-privileged approach.
Employee Training – MSPs are often asked to help educate and train their customers on cybersecurity practices. Don’t forget to conduct the training on your own workforce to help reduce your risk.
Offboarding Policies – Employee turnover has been one of the top 5 MSP challenges for the last few years. MSPs need to ensure they have proper offboarding policies in place when employees leave the company so they can no longer access systems and data. A number of these employees are administrators that know your systems, where information lives, and where the shortcuts are. PAM software can help automate the offboarding process removing access permissions quickly as employees leave an organization.
XTAM for MSPs
Adding security and privileged access management software to an MSPs’ security toolbox can help reduce the risk of cyberattacks. If you are not using PAM software or have a legacy solution, consider Xton Access Manager MSP, a full-featured PAM solution based on modern software architecture, agentless and cloud-ready. We offer affordable licensing options and weekly product updates to meet today’s rapidly changing security needs.
You work hard to support your client’s needs. Don’t let your hard work be compromised. Download a free trial of XTAM or contact us for a demo.