In 2024, Managed Service Providers (MSPs) are increasingly targeted by cybercriminals due to their central role in securing and managing client networks. The complexity of these threats is growing, with ransomware, nation-state actors, and supply chain vulnerabilities at the forefront. MSPs must understand the evolving threat landscape to protect their own systems and, by extension, those of their clients.
The original presentation on this subject was given on September 24, 2024, for Seceon’s Innovation and Certification Days. You can watch the full video here:
Ransomware remains one of the most prevalent cyber threats facing MSPs and their clients. According to CISA (Cybersecurity and Infrastructure Security Agency), ransomware accounted for nearly 70% of all reported cyber incidents in 2024. Attackers have evolved their tactics to include double extortion, encrypting files while simultaneously threatening to leak sensitive data unless a ransom is paid.
For MSPs, ransomware presents a significant challenge because a single successful attack on one client could spread across multiple networks under their management. This makes early detection and rapid mitigation crucial. Seceon’s AI-powered platform excels in this area by automating real-time monitoring and patch management, enabling MSPs to neutralize ransomware threats before they cause widespread damage.
Cyber espionage and intellectual property theft are growing concerns, with nation-state actors from Russia, China, North Korea, and Iran leading the charge. These nation-states have become increasingly sophisticated in their tactics, often targeting critical infrastructure and high-value intellectual property. Over 50% of nation-state cyber activity reported to CISA in 2023 was attributed to espionage and data theft.
Advanced Persistent Threats (APTs) are typically used by these nation-state actors, allowing them to infiltrate networks and maintain prolonged access. APTs are especially dangerous because they often go undetected for extended periods, allowing attackers to engage in espionage, data theft, or disruption. MSPs are not immune to APT attacks, which can affect their entire client base if exploited.
Mitigating APT risks requires a multi-layered approach that includes rigorous patch management and endpoint security. Seceon’s platform leverages AI to detect anomalies and alert MSPs to potential APT activity before it can escalate into a major security incident.
Zero-day exploits have seen a marked increase, particularly across software platforms that are widely used by MSPs. These exploits take advantage of vulnerabilities that have yet to be patched by the software vendor, making them especially dangerous for MSPs who rely on third-party applications to manage client networks.
Supply chain attacks also pose a growing threat. In 2022, CISA reported a 20% increase in supply chain attacks targeting third-party software that MSPs often use. Attackers exploit weaknesses in these tools to infiltrate client systems, leveraging the MSP as a point of access. This makes it essential for MSPs to not only secure their own systems but also ensure the integrity of the tools they deploy for clients.
CISA recommends adopting supply chain security best practices, such as those outlined in their Cyber Supply Chain Risk Management Toolkit. By implementing these practices and using solutions like Seceon’s Open Threat Management (OTM) platform, MSPs can better defend against supply chain and zero-day vulnerabilities.
Beyond traditional threats like ransomware and phishing, new forms of cyberattacks are on the rise. One notable trend is the resurgence of cryptojacking, which saw a 399% increase in 2024. Cryptojacking involves hijacking a system’s resources to mine cryptocurrency, which can degrade system performance and expose MSPs to broader vulnerabilities.
Additionally, Malware-as-a-Service (MaaS) has become a growing problem. Criminal groups now offer malware on a subscription basis, making it easier for inexperienced attackers to launch sophisticated malware campaigns. This trend lowers the barrier to entry for cybercriminals, leading to an increase in the volume and complexity of attacks.
MSPs must stay vigilant against these threats by adopting proactive monitoring tools. Seceon’s AI-driven solutions help detect cryptojacking and malware attacks in real-time, reducing the impact of these emerging threats on client systems.
As the threat landscape evolves, MSPs are also facing increasing regulatory pressure to ensure compliance with data protection and privacy laws such as GDPR and CCPA. Non-compliance can result in significant fines, not to mention reputational damage.
CISA’s Continuous Diagnostics and Mitigation (CDM) Program offers valuable guidance for MSPs in maintaining compliance with industry standards. Logging and monitoring are critical components of regulatory compliance, and MSPs must ensure they have robust systems in place to track potential security incidents.
Seceon’s automated monitoring tools help MSPs stay compliant by offering real-time threat detection, logging, and reporting. This allows MSPs to not only protect their networks but also demonstrate adherence to regulatory standards.
In summary, the 2024 cybersecurity threat landscape presents significant challenges for MSPs. Ransomware, nation-state actors, zero-day vulnerabilities, and supply chain attacks are just a few of the many risks MSPs must contend with. To mitigate these threats, MSPs should adopt a proactive cybersecurity posture that includes:
Seceon’s AI-powered platform offers the tools MSPs need to defend against today’s most pressing cybersecurity threats, ensuring that their clients’ data and systems remain secure in an increasingly dangerous digital landscape.
As cyber threats continue to grow in both sophistication and frequency, MSPs must take decisive action to protect their clients. With solutions like Seceon, MSPs can leverage AI-driven threat detection, behavior analytics, and continuous monitoring to stay one step ahead of attackers. In an era where cyberattacks are inevitable, being prepared and proactive is the best defense.
Let’s make sure 2024 is the year MSPs take cybersecurity to the next level.
