How MSPs Can Protect Themselves From Ransomware

In the MSP industry, it’s wise to consider your customers privacy and security. We emphasize how important it is to have a backup and recovery strategy in place, and spend considerable time building that plan.

Interestingly, many MSP owners get into the pitfall of forgetting about themselves and their own systems. It’s understandable, considering they’re in the business of looking after other people. Unfortunately, that focus and dedication can cause them to neglect other important parts, such as insuring their own MSP is protected.

This is an angle that many hackers take advantage of because they know there might be vulnerabilities. With MSPs so duty-bound to protect their clients, they leave themselves vulnerable to attacks. Furthermore, MSPs are likely to pay because they store client information but also if they confess they got hacked, their customers would lose faith in them.

It’s for these core reasons why MSPs should be taking preventative measures in the first place. Below are some simple strategies to help your MSP protect themselves from these attacks.

Create A Routine Schedule for Backups and Testing

You provide a backup and recovery plan for customers [MSP Disaster Recovery Plan] so it makes sense that you should have one for yourself too. The best way to nullify ransomware attacks is by ensuring your critical data is stored in other secure locations as well. Having one in the cloud is a smart idea but also keeping one in an offline location can help too.

Have Patch Management

Just like you tell your clients to keep everything updated, it’s important that your software is up to date as well. Whenever new patches come in, they cover up vulnerabilities that were detected between the previous patch and this one. Always be current and you can avoid a lot of headaches.

Promoting Good Security Hygiene

The weakest link in security isn’t the IT systems; it’s the users. Yes, you will have technicians and specialists in the IT field working in your business but not every person working for you is a technician. All you need is a single weak link for the entire chain to snap off.

As a result, it’s important for people to be educated and trained on how to detect malware, setting up strong passwords with two-factor authentication, amongst other security measures.

Have Two-Factor Authentication

To expand on two-factor authentication, having this in place for every single platform and system you have is a smart thing to do. This alone empowers secure access to specific people and prevents unauthorized users from accessing confidential or sensitive information.

To access via two-factor, one common method is to require an authorization code, in addition to the correct username and password.

Have Your Plans Documented

Being prepared for anything is key; there is no such thing as being too prepared for an attack. As an MSP, one measure you can take is document data protection and cybersecurity processes as well best practices, and actions to be taking during a crisis.

Having all of that mapped out ensures that people know what they should be doing if this was to happen.

Have Long-Term Plans

Dealing with ransomware attacks aren’t just a one-and-done thing. Because these are changing and growing in popularity, it’s key for people to be vigilant and ensure there aren’t any security gaps that could compromise the business or expose client data.

When you are putting together a plan, your strategy should be effective for a long-term, while being adaptable to changing environments when necessary.

About MSP Corp

MSP Corp understands you’ve worked hard to build your business and you want to protect it. With a mission to be a world-class business partner for MSP owners across Canada, we actively seek to acquire and partner with owners looking to secure the value of the business they have built and provide a seamless exit process that ensures business continuity and employee and client stability.

Contact us today to learn more about selling your business and maximizing its value.