Managed IT Service Providers (MSPs) and Managed Security Service Providers (MSSPs) are entrusted with safeguarding a vast amount of sensitive data for their clients.
As businesses increasingly migrate their operations to the cloud, MSPs become prime targets for cybercriminals seeking a single point of entry to a network of organizations.
The UK National Cyber Security Centre (NCSC) highlights the inherent risk of relying on MSPs. Each MSP’s vast pool of client data makes them attractive targets for attackers aiming for a wider reach.
While sophisticated attacks like ransomware grab headlines, a surprisingly simple vulnerability continues to plague cloud security for MSPs: weak or stolen passwords.
In an era where data breaches caused by stolen passwords might seem like a relic of the past—particularly for businesses using MSPs—a sobering statistic from IBM reveals that weak or stolen credentials are still responsible for a third of such attacks.
This highlights the ongoing vulnerability of traditional login methods, even in supposedly secure environments.
A case study: The costly impact of weak security
A stark example unfolded in November 2023, when a significant cyberattack brought down the IT services provider CTS, which specializes in supporting UK law firms.
Exploiting a vulnerability in Citrix software (CVE-2023-4966), the attack caused widespread disruptions for many law firms.
The vulnerability allowed attackers to bypass security measures and gain extensive network access.
By manipulating the system with specific messages, attackers could keep login sessions open indefinitely, rendering single and multi-factor authentication useless.
This incident accentuates the importance of layered security beyond passwords, as attackers can still gain access through vulnerabilities even if strong authentication is used.
From simple passwords to big problems
In today’s digital landscape, protecting your client’s data is paramount for any MSP. Despite more secure authentication methods like Multi-Factor Authentication (MFA), passwords remain the primary gateway to most cloud platforms and applications.
Weak or reused credentials are a major entry point for cyberattacks.
Fortifying the password defense: Strategies for MSPs
While passwords may not be perfect, there are steps MSPs can take to mitigate the risks associated with weak credentials significantly:
- Multi-Factor Authentication (MFA): Enforce MFA for all user accounts, including privileged ones. This adds an extra layer of security, making it significantly harder for attackers to gain access, even if they steal a password.
- Privileged access management: Implement the principle of least privilege, granting users only the minimum level of access required to perform their jobs. This minimizes the damage a compromised account can cause.
- Continuous monitoring and threat detection: Deploy security tools that continuously monitor your client endpoints for suspicious activity. This includes endpoint monitoring, vulnerability scanning, and threat detection.
- Enforce strong password policies: Implement strict password policies that mandate a minimum length, character complexity, and regular password changes.
- Endpoint security measures: Adopt endpoint security measures to monitor for suspicious activity that might indicate malware or attempts to steal login credentials.
- Browser security: Utilize automated tools to deploy phishing filters and browser plugin restrictions. Disable browser auto-fill features and implement strong security policies to secure client data.
While strong passwords are a crucial first line of defense, they should not be the sole security measure.
A layered approach that combines password best practices with MFA, robust security policies, and endpoint security solutions is essential for MSPs to safeguard not only their clients’ IT infrastructure and data but what they host in-house as well.
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According to a recent report, organizations are planning a significant 37% increase in cloud security budgets.
This investment is crucial for safeguarding sensitive data and ensuring compliance with ever-evolving regulations.
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