By Meaghan Moraes, Continuum
With cybercrime damages set to cost the world $6 trillion annually by 2021, a new bar has been set for cybersecurity teams across industries to defend their assets. This rings especially true for IT service providers, who are entrusted to keep their clients’ systems and IT environments safe from cybercriminals. These clients are typically small and medium-sized businesses (SMBs), which are now the primary target of cyberattacks. This presents a major opportunity for the managed service providers (MSPs) who serve them to emerge as the cybersecurity leaders their clients rely on to help them successfully navigate the threat landscape.
Before you can start providing cybersecurity education and guidance, it’s crucial that you become well-versed in the biggest threats to your clients’ businesses. As an IT service provider, understanding how to prepare for the following cyber threats will reinforce the importance of your role to your clients.
Ransomware is a type of malwarethat blocks access to a victim’s assets and demands money to restore that access. The malicious software may either encrypt the user’s hard drive or the user’s files until a ransom is paid. This payment is typically requested in the form of an encrypted digital currency, such as bitcoin. Like other types of malware, ransomware can spread through email attachments, operating system exploits, infected software, infected external storage devices, and compromised websites, although a growing number of ransomware attacks use remote desktop protocols (RDP). The motive for these types of attacks is usually monetary.