We often talk about protecting customer data from cybercriminals. Despite this, no organization is fully protected - not even managed service providers (MSPs) when it comes to cyberattacks. MSPs are an attractive target for ransom attacks because of the multitude of SMB businesses they maintain. A ransomware attack on an MSP would be harmful to both its business and clients.
While protecting customer data is a top priority for MSPs, MSPs must also understand that they are the gateway that cyber criminals utilize to obtain access to their client's data. With cyber threats coming in from every angle, it is confirmed that 1 in 5 companies fall victim to a cyberattack, as explained in the Ransomware Attacks Survey by Hornetsecurity.
MSPs need a multi-layered approach to ensure that their business and their customers' data are protected from hacking attacks.
What is ransomware?
Ransomware is that "famous" type of malicious software created to lock or encrypt a victim's files, along with applications, or systems, by making them inaccessible.
The idea behind a ransomware attack is simple - block access to the victim's data and extort money to restore access. Ransomware is a profitable business for cybercriminals, and it is one of the most destructive cyber threats faced by companies and individuals across the globe.