How to handle risks related to cybersecurity and third parties
Cyber Protect Cloud for Service Providers Try now In today’s digital world, third-party risk management and hacking are essential for businesses in every industry. Because of how connected businesses are today, weaknesses in one organisation can affect other parts of the organisation, which could risk the whole network of companies linked to it. Cybersecurity and third-party risk are essential issues that must be understood and dealt with to keep your data, image, and operations honest. Be ahead of cyber threats: put in place strong security measures to keep your business safe from attacks that are becoming more common. One of the biggest problems with cyber security is that cyber risks are constantly changing. Criminals who work online always come up with new ways to exploit threats. This means that security workers have to be constantly alert and flexible. Attackers can get into systems in many ways, such as phishing, malware, and advanced persistent threats (APTs). Private information can be stolen, or activities can be slowed down. To keep these dangers at bay, organisations need to keep up with new threat information and use the newest ways to find and stop them. A significant threat to safety also comes from inside the company. Employees, contractors, or business partners who have access to private data may put security at risk, whether they mean to or not. This risk shows how important it is to set up strong access controls, provide regular security training, and monitor user activity to spot any odd behaviour. Organisations can lower the risk of insider threats and improve total security by promoting a culture of security awareness. Another big worry is the risk of a third party. Companies depend on outside sellers and service providers more and more, so they must ensure that their partners follow strict safety rules. A breach at a third-party provider can put the parent company at significant risk of data breaches, financial loss, and damage to its image. Researching third-party vendors’ security policies, including risk assessments and security audits, is important. Setting clear contractual responsibilities for security measures and how to handle incidents can also help lower third-party risks. Protect your cloud and supply chain: complete ways to keep your info safe and your business running smoothly. Cloud security is becoming more of a problem. More businesses are moving their data and programmes to the cloud. Most cloud companies have robust security features, but organisations are still primarily responsible for keeping their data safe under the shared responsibility model. In cloud environments, typical security holes include wrong configuration, poor access control, and no encryption. To keep their cloud assets safe, businesses need to use strong security measures like multi-factor authentication, data encryption, and constant tracking. The General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) make data privacy laws even more complicated. These laws make hacking and managing third-party risks even more difficult. So that they can follow these rules, businesses must put in place strict data protection measures and be open about how they collect and process data. Not following the rules can lead to big fines and damage to your image. Companies should be aware of the laws that apply to them and ensure that their safety procedures align with those laws. There are increasingly Internet of Things (IoT) gadgets, making cybersecurity harder. Because these devices don’t always have strong security tools, hackers want to attack them. When IoT devices are hacked, they can be used as entry points for attacks on more extensive networks, leading to data leaks or problems with how things work. To keep the IoT world safe, businesses should use strong security measures like separating networks, authenticating devices, and updating firmware regularly. Bridging the Cybersecurity skills gap: Invest in training and leveraging advanced technologies for better threat detection and response It’s also very hard because there aren’t enough skilled cybersecurity experts. More qualified professionals are needed to meet the rising demand for cybersecurity skills, which makes the skills different. Companies should put money into training and development programmes to make their experts, and they might want to use controlled security services when they need more staff. The skill gap can also be closed by working with academic institutions and participating in programmes that build cybersecurity talent. Supply chain protection is becoming more of a problem because hacking on the supply chain can have harmful effects all over the world. Cybercriminals can get into big networks by exploiting suppliers’ or partners’ weak spots, which causes many problems. Companies should use all-encompassing supply chain risk management plans. This includes putting producers through a lot of tests, keeping an eye on what’s going on in the supply chain at all times, and making plans for what to do if something goes wrong. Human error is still a regular risk factor in cybersecurity. Simple mistakes can have terrible effects, like falling for phishing scams or setting up security settings incorrectly. Continuous training in safety knowledge and using automated safety devices can help lower the effects of mistakes people make. Essential parts of a good cybersecurity plan are promoting a culture of vigilance and giving employees the tools and training they need to spot and deal with security threats. Reduce the risks from third parties by researching and ensuring that your partners follow strict security rules.lth Lastly, cyberattacks are getting smarter, so we need better ways to find threats and stop them. Complex, multi-vector attacks might be too hard for traditional security methods to find and stop. To better find and deal with threats, businesses should spend money on new security technologies like artificial intelligence and machine learning. These technologies help organisations find and stop dangers faster and lower the damage that cyberattacks can do. Last but not least, cybersecurity and third-party risk management are essential parts of a complete security plan. Cyber threats are constantly changing, and organisations need to be aware of insider threats, third-party vulnerabilities, cloud security issues, regulatory compliance, IoT security, skills gaps, human
Risk in Cybersecurity: Simplified Insights
Cyber Protect Cloud for Service Providers Try now Ransomware variants and the number of new groups continue to decrease, yet the most renowned families of the attack vector are still causing companies across the globe to lose data and money. The report sheds light on the lack of strong security solutions which should be detecting the exploitation of zero-day vulnerabilities. To add, organisations are falling victim to attacks due to the delay in patching vulnerable software which allows threat actors to gain domain administrative rights, uninstall security tools and infiltrate sensitive information. Behavior-based detection and exploit prevention technology can prevent most of these attacks. This, paired with proper data backup, following the 3-2-1 rule, is necessary to create a last line of defence. “There’s a disturbing trend being recognised globally where bad actors continue to leverage ChatGPT and similar generative AI systems to increase cyberattack efficiency, create malicious code, and automate attacks,” said Cin Prates, Muttii VP of Product Management. “Now, more than ever, corporations need to prioritise comprehensive cyber protection solutions to ensure business continuity.” As a channel-first organisation, Muttii’ focus is to protect its dedicated partners, managed service providers (MSPs) and managed security service providers (MSSPs). These IT resources are allies to businesses who seek robust IT infrastructure and sound cybersecurity but because they centralise services to numerous businesses, from SMBs to large corporations; the scaling efficiencies that make them a business asset also make them a single point of failure where cybercriminals can exploit multiple entities through a single attack. The report notes how more advanced tactics like supply chain attacks, AI-driven attacks and state-sponsored incursions are likely to intensify. MSPs should brace themselves for threats unique to their operations, including “island hopping,” in which attackers use an MSP’s infrastructure to attack clients, as well as “credential stuffing,” which exploits an MSP’s broad access to systems. To address this concern, Muttii offers training and certification programs through the MSP Academy for those interested in enhancing their cybersecurity skills and knowledge. Key findings and themes from the report include: Global threat landscape Singapore, Spain, and Brazil emerged as the most targeted focus countries for malware attacks in Q4 2023. Muttii blocked nearly 28 million URLs at the endpoint in Q4 2023, reflecting a 36% decrease compared to Q4 2022. 33.4% of received emails were identified as spam, with 1.5% containing malware or phishing links. The average lifespan of a malware sample in the wild is 2.1 days. In Q4 2023, 1,353 ransomware cases were explicitly mentioned, with notable contributions from LockBit, Play, ALPHV and the active Toufan group. Cybersecurity trends – from July – December 2023 Ransomware remains a major threat to large and medium-sized businesses, impacting critical sectors such as government and health care. Data stealers are the second most prevalent threat, contributing to most data breaches. The use of generative AI systems, including ChatGPT, for launching cyberattacks and creating malicious content is on the rise. Ransomware Trends Known ransomware gangs in 2023 include LockBit, Cl0P, BlackCat / ALPHV, Play, and 8Base. The ALPHV gang, whom the FBI targeted in December 2023, breached over 1,000 entities, demanded over $500 million, and received over $300 million in ransom payments. Regardless of a decrease in ransomware variants, businesses continue to suffer data and financial losses. Attacks on MSPs are increasing Attacks on managed service providers (MSPs) continue, with a recent high-profile breach affecting multiple U.S. (United States) government agencies. Microsoft cloud email account vulnerabilities led to the compromise of 60,000 emails from 10 U.S. State Department accounts. Phishing and email Attacks remain the main vectors of infection The total number of email-based attacks detected in 2023 increased by 222%. Organisations experienced a 54% increase in the number of attacks per organization. 91.1% of organisations faced AI-enhanced phishing attacks. The AI menace — Cybercriminals embrace malicious AI-based tools for corporate attacks Cybercriminals are leveraging malicious AI tools, including WormGPT, FraudGPT, DarkBERT, DarkBART and ChaosGPT. The public release of ChatGPT has increased the use of generative AI for cyberattacks. “The Muttii Cyberthreats Report H2 2023 highlights the continued threats faced by businesses of all sizes worldwide,” said Michael Suby, Research VP, IDC. “Unfortunately, bad actors continue to profit from these activities and are leveraging AI-enhanced techniques to create more convincing phishing schemes, guaranteeing that this problem will continue to plague businesses.” The report is curated by the advanced Muttii Cyber Protection Operation Center (CPOC) and includes data surrounding ransomware threats, phishing, malicious websites, software vulnerabilities and a security forecast for 2024. Released biannually, the Muttii Cyberthreats Report sets the industry standard by consistently establishing itself as a benchmark for cybersecurity intel. By regularly publishing reports to stay abreast of cybersecurity developments, Muttii’ analysis of the global cyberthreat landscape is published for the benefit of its users and partners. For more information, download a copy of the full Muttii End-of-Year Cyberthreats Report 2023 here: https://go.muttii.com/cyberthreats-2023-h2 To learn more about the report and its findings, visit the Muttii blog post: https://www.acronis.com/en-us/blog/posts/ransomware-and-software-vulnerabilities-created-the-most-havoc-in-h2-2023 Visit www.muttii.com for information about Muttii solutions that help combat security challenges like these – including the new, groundbreaking native integration of Muttii Advanced Security and Endpoint Detection and Response (EDR) solutions. About Muttii: Muttii is a global cyber protection company that provides natively integrated cybersecurity, data protection, and endpoint management for managed service providers (MSPs), small and medium businesses (SMBs), and enterprise IT departments. Muttii solutions are highly efficient and designed to identify, prevent, detect, respond, remediate, and recover from modern cyberthreats with minimal downtime, ensuring data integrity and business continuity. Muttii offers the most comprehensive security solution on the market for MSPs with its unique ability to meet the needs of diverse and distributed IT environments. A Swiss company founded in Singapore in 2003, Muttii has 15 offices worldwide and employees in 50+ countries. Muttii Cyber Protect is available in 26 languages in 150 countries and is used by over 20,000 service providers to protect over 750,000 businesses. Learn more at www.muttii.com. 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Risk: Protect Your Cyber Environment
Cyber Protect Cloud for Service Providers Try now Modern MSPs increasingly leverage cloud-centric, subscription-based services rather than the old-school “break-fix” approach. The upgrade from legacy systems to highly customizable, automated ones is challenging but can be streamlined to ensure a smooth transition. This article will explore how to switch to automated time-tracking software while ensuring both your employees and the organization’s well-being. Understanding the Significance of Automated Time Tracking for MSPs Understanding how your MSP invests its time can be the difference between your project and all competitors in your chosen industry. Whether a small organization with several clients or an industry giant handling a vast client portfolio, every successful MSP relies on adequate time allocation, and to ensure that, robust MSPs rely on sensible time tracking. Time tracking allows MSPs to monitor, gather productivity data, analyze various KPI metrics, and optimize their efforts to significantly improve project management, profitability, and return on investment (ROI). Let’s explore a bit more below. For starters, accurate, automated time tracking can calculate how much time is spent on both critical and low-impact tasks so team leaders and managers can pinpoint areas for improvement, allocate resources more effectively, and ensure a streamlined work process. Moreover, time tracking can help with project planning, cost control, and performance evaluation Revenue Implications of Accurate Time Tracking If utilized correctly, accurate time tracking brings numerous benefits to MSPs. Let’s explore some of them below. Planning future projects Historical time-tracking data enables easier planning for future projects. You can use the time statistics to calculate (and estimate) how long a similar project will take. Doing this over and over will improve your MSP’s ability to set goals, timelines, and budgets aligned with realistic expectations. Controlling costs A project manager can leverage time-tracking data to identify resource over usage or underutilization areas to make the necessary adjustments and reduce unneeded expenditures. Evaluating performance Keeping track of time spent on various tasks helps evaluate your team and individual employee performance to identify areas for improvement and ensure additional training or support. Here, pinpointing top performers may be beneficial for specific employees but may also promote an unhealthy work environment if approached incorrectly. To avoid such a scenario, it’s best to discuss performance evaluations with team leaders and the employees and develop solutions to raise productivity together. Enhancing Efficiency and Productivity with Time Tracking Automation Around 67% of companies globally outsource some or most of their IT infrastructure to MSPs. That sounds like a lot of business for the MSP industry. However, even in the mid-2000s, MSPAlliance estimated that there were approximately 150,000 MSPs operating globally. While the number has undoubtedly varied in years past, modern managed service providers are up against tens of thousands of competitors. And while standing out from the pack is a must for any successful MSP, maximizing the profitability of existing projects is just as important. Automated time tracking can help with that as well. Let’s explore more on that below. Accurately tracking billable time Time tracking is a must for MSPs that bill their clients based on time spent procuring services. In such a model, your MSP can track time spent with your customers to adequately calculate billable hours, which, in turn, can lead to increased revenue and higher customer satisfaction. The latter can occur naturally (and is best if it does) when you present clients with the transparency and accountability they require to trust your service. Optimising costs Via time tracking, MSPs can pinpoint inefficient processes and eliminate them from their service chain to free time for business-critical tasks. Reducing unnecessary expenses naturally increases profitability. Optimising resources Knowing how your support teams and technicians spend their time with your clients enables more effective resource allocation. This way, you can minimize labor costs and prevent overstaffing to increase profitability further. However, it’s important to note that pushing to squeeze the maximum out of the minimum required workforce can have downsides. Even if your numbers go up for a period, overworked employees can quickly become discouraged and exhausted, leading to lower productivity and fewer returns. This is why it’s best to utilize time tracking to ensure both staff productivity and employee well-being and find the right balance to suit all involved parties, including your clients. Project management (scope control) With robust time tracking tools, MSPs can ensure any project’s complete overview. Tracking time spent not only on procured services and employee productivity but also on different project components ensures your service won’t exceed the agreed-upon scope in the SLA. Time tracking’s effect on ROI In addition to being a game changer for project management and cost control, time tracking can directly impact your return on investment. Let’s explore that below. Revenue-generating opportunities Time tracking can outline which tasks contribute the most to the success of different projects. MSPs can focus their effort on such critical activities to enhance their ROI. Data-driven decisions As mentioned, historical time-tracking data can help with future project planning. Well-planned, data-driven decisions regarding future projects can boost their potential success, thus increasing ROI. Continuous, steady improvement Historical data lets managers identify areas for improvement and continuously implement changes to optimize day-to-day processes, reduce costs, and increase ROI. Accountability and Transparent Client Reporting Many MSP clients will be satisfied to receive detailed (itemised) invoices. Such invoices provide more transparency into their MSP spending, which can translate into enhanced trust and loyalty to your offering. A robust time-tracking tool will simplify comprehensive invoice creation and can implement different pricing rates to suit complex services. This way, your MSP can account for the effort, resources, and time invested throughout the project timeline and avoid bargaining and unpleasant communication with potentially unsatisfied clients. Moreover, an automatic time-tracking app continuously creating detailed service reports and invoices can contribute to optimal transparency and long-lasting MSP-client relationships. Basics of Time Tracking Automation Time-tracking software is a tool (e.g., a time-tracking app) reliant on unique identifiers to record time spent by employees on various tasks and projects. MSPs can use time-tracking solutions
Risk in Cybersecurity: Simplified Strategies for Safety
Cyber Protect Cloud for Service Providers Try now The importance of Antivirus Protection for Mac Users For years, there has been a belief among consumers and companies using macOS computers, and particularly Mac antivirus software, that they have been provided with better cyber protection compared to Windows operating systems. However, contrary to this belief, it is not entirely accurate. What’s even more disturbing is the increase in the number of cyberthreats specifically targeted at Mac operating system software. According to Malwarebyte’s “2023 State of Malware” report, there has been a 42% rise in malware detections in businesses and individuals using Mac operating systems in 2023. On the other hand, companies utilizing Windows operating systems experienced a 24% decrease in malware attacks. Which contrasts with the common misleading information that Apple computers have better virus protection than those that use Windows as their operating system. These findings confirm the fact that the Mac security software is capable to protect you from all the advanced cyber threats that are stalking us in our everyday activities when we are online. This leads to the conclusion that their integrated level of security may not be as robust as previously believed. They are also likely to encounter an increasing number of cyberthreats. We can explain the rise of cyberattacks targeted at macOS devices by the fact that the majority of people using such phones and computers rely on what is said about the security of macOS and don’t equip themselves with additional antivirus protection programs. Thus, cybercriminals are aware of this vulnerability and concentrate their efforts on creating sophisticated and advanced viruses and cyber threats directed to these weaknesses in the security system. The purpose of this article is to dive deeper into the realm of Mac cyber security by exploring why misleading information about Macs being more secure from cyberthreats persists. Additionally, we will examine the types of cyberattacks targeting Mac OS X and provide recommendations on how you can enhance your Mac’s cyber protection. In order to not become the next victim of the mean cybercriminals. Understanding Mac Security Threats As we mentioned, the cyber threats that a macOS can face are much more than they used to be in the past. Nowadays, cybercriminals have designed advanced viruses like malware, ransomware, and identity theft attacks targeted particularly at Mac devices. In the past, Mac malware protection and antivirus tools like XProtect were able to handle all known potential threats, but now the reality has changed. We are witnessing an increased number of attacks and new viruses designed specifically for macOS devices. The virus protection implemented in the OS of all Apple devices is not capable anymore of preventing these mean and sophisticated threats, and the possibility of becoming a victim of cybercriminals has increased multiple times through the vulnerabilities that these attackers see as an opportunity to infect your device and collect sensitive information related to bank and identity information, and overall important data that everyone of us stores in these computers and phones. According to recent research, the number of malware attacks on Apple devices has quadrupled for the last five years, and maybe this is related to the COVID-19 crisis that we all have been through. The majority of people changed their workspace from being at the office to working from home. Cybercriminals saw this opportunity as a perfect moment to multiple their attacks, like designing advanced malicious software and other cyber attacks. Unfortunately, most Mac users believe that their devices are provided with strong enough virus, malware, and ransomware protection, they don’t provide themselves with additional standalone Mac antivirus software. This is a real problem for every user provided with an Apple device. On the other hand, it is a perfect opportunity for cybercriminals to use this misunderstanding and penetrate their victims computers and mobile devices. In this article, we want to make people understand the importance of providing themselves with additional antivirus software in order to protect their computers from the threats that are stalking us every day. We will discuss the advantages of using such software and the security level that it will provide. We will mention what to look for in the task to find the best mac antivirus program and provide tips on how to choose the one that meets your needs and fits your budget. What are some common features of Antivirus Software for Mac? Protecting Mac computers against cyber attacks has become a critical aspect, because of the constant development of new and more advanced viruses and cyber threats that we may face on a daily basis while being online doing our everyday activities. It is a well-known fact that cybercriminals are creating new approaches to penetrate our security systems and to make every antivirus program struggle with the task to detect and prevent them on time in their early stage. The need for strong and reliable cyber security has become a must in the world we are currently living in, because if we aren’t equipped with the right security tools to prevent these harmful attacks, this can lead to serious consequences for every one of us. Fortunately, not only the threats are developing and becoming stronger, but the same counts for the protection software and security tools that have the main goal of protecting us from these harmful and destructive cyber attacks. Antivirus for Mac equips us with comprehensive security features and tools, providing a strong security law that protects us from countless malicious programs, viruses, and online dangers. From real-time scanning and firewall protection to identity theft prevention and ransomware defense, these tools offer robust protection against today’s advanced cyber threats that are out there stalking us in the web space. In this article, we’ll dive deeper into some common features and tools provided by the antivirus for Mac, each playing a critical role in ensuring the security and safety of our Apple computers. Are you impatient to understand more about Mac antivirus security? Then keep reading. Now, let’s explode in detail about