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Risk of Cyberattack is Growing

Risk of Cyberattack is Growing

Has your organization ever had to deal with ransomware, malware, virus infections, or cyberattack? This attack may have seen important services fail and meant employees couldn’t do their work for hours or even days.  

It could even have blocked customers from accessing your digital or physical services. There’s a good chance this has already happened to you, given that the number of reports of cyber incidents has never been as high as it was last year. 

The damage cyberattack does to organizations ranges from unauthorized access via a relatively simple hack to large-scale theft of sensitive data, resulting in prolonged downtime. Effective recovery costs a lot of money and damages the confidence of your customers and investors. Whatever happens, don’t let a cyberattack destroy your organization. Prevention is better than cure, but if it does happen, it’s important to act quickly and limit the consequences. 

The Challenge for Companies 

As an organization, you must always be able to count on having structurally secure access to all customer data and business-sensitive data, while at the same time respecting all market-related regulations, legislation, and company policy. Reducing costs also often plays a major role, especially at a time when IT teams need to do more than ever in terms of innovation, security, and optimization. That is the number-one challenge that CTOs, CIOs, and IT managers face today. 

Affected by a Cyberattack? 

Risk of Cyberattack

If something does go wrong and your organization falls victim to a cyberattack, the often already overloaded IT staff work overtime to get the affected services and security back up and running as quickly as possible. These sorts of situations can be a frightening wake-up call, suddenly making everyone aware of the organization’s unexpectedly high vulnerability to cyberattacks. 

This is when people start asking: how can we better secure our organization, employees, and customers against cyberattacks? And what’s the most cost-effective solution? 

Managed Security Services Providers (MSSPs) provide structural security solutions against cyberattacks, including always up-to-date expertise in the latest cyber threats and appropriate solutions. 

What is a Managed Security Services Provider (MSSP)? 

Because security threats are becoming increasingly common, many organizations are partnering with a Managed Security Services Provider (MSSP), often in addition to their existing security program. MSSPs provide professional monitoring and management, protecting hardware and data from potential cyberattack.  

A Managed Security Service Provider is a third party that manages and implements network security and other forms of security for organizations. This could include: 

  • Blocking viruses and spam;
  • Managed Firewalls;
  • Detecting intrusion attempts;
  • Setting up and securing a virtual private network (VPN);
  • Implementing system changes or upgrades. 

In addition, MSSPs continuously monitor the security devices and systems in the organization. Most MSSPs offer a wide range of services, including: 

  • Device management;
  • Log monitoring and management;
  • Vulnerability management;
  • Consultancy services. 

Managed Security Service Providers generally offer their services in a software-as-a-service (SaaS) model. This means that your organization doesn’t need any extra hardware or staff – and this has a number of major benefits! We’ve listed the eight main ones for you. 

Eight major benefits of having an MSSP 

1. MSSP lowers costs in many areas 

Reduced training costs 

Working with an MSSP results in major cost savings on training and ensures IT teams have up-to-date knowledge of cyber security and threats. You benefit directly from the expertise and experience of the MSSP. 

Lower staffing costs 

You also save on staffing costs. Using an MSSP means you don’t incur any costs for hiring one or more full-time InfoSec professionals. In addition, MSSPs continuously monitor security systems – 24 hours a day, 7 days a week! You can’t even expect that from your best employees. 

Lower investment costs 

An MSSP spreads the fixed costs of investments in technology over a broad customer base. And as a customer, you benefit directly from these savings. With an MSSP, you save directly on the costs of your own hardware, applications, and experts. 

No unexpected costs 

An MSSP is the solution to a lot of your concerns, and it makes it clear what you have to do as an organization. After all, managing everything in-house means new rules and guidelines can come as a surprise, resulting in high unexpected costs when you need to hire industry and compliance experts. 

2. More time to focus on your business 

An MSSP frees up time, so you can work on the things that really move your business forward – no more continuously having to resolve incidents. Your IT teams can reclaim time to focus on developing things, such as new services (innovation), network-related optimisations, business roadmaps, and more. 

3. Access to unique expertise and tools 

Are your IT staff experts in cyber security? Do they know all the latest developments, techniques, and technologies that guarantee safety? IT security is a unique expertise area that requires continuous training and education. For many organizations, experienced and dedicated staff for IT security are not only expensive, but also difficult to find.  

Gaining access to the best cyber security solutions and technologies is a key asset and incentive to start working with a Managed Security Services Provider. An MSSP also provides independent cyber-security advice; this isn’t the case for suppliers of hardware and tools. 

One of the main benefits of working with a Managed Security Services Provider is the broad cyber-security expertise it offers, something that many companies don’t have in-house. Outsourcing this to a Managed Security Service Provider means you can be certain that a security expert will protect and manage your data properly. The certified employees of good MSSPs are always aware of developments in industry and in modern cyberattack. 

Organizations that place their trust in an MSSP are often more effective at protecting their own organizations than when they rely on their own security teams alone. Of course, this doesn’t alter the fact that both teams have to make proper arrangements about how they communicate with one another. 

4. Direct cyber security 

IT teams themselves often don’t have time to keep up to date with the best next-generation firewalls or cyber-security topics, such as endpoint protection, phishing, and advanced threat prevention.  

Cyberattack Risk

The good news is that as a partner of your company, an MSSP always has that knowledge at hand and applies it directly. From the moment an organization chooses a good MSSP, that expertise is immediately accessible: your MSSP is dedicated to ensuring the security of your network, endpoints, and data 24 hours a day, 7 days a week. This is intelligent, always-on cyber security expertise!  

5. Automatic detection and fixing of vulnerabilities 

An MSSP takes a lot of work off your hands when it comes to detecting and fixing vulnerabilities. An MSSP can: 

  • Structurally detect and reduce vulnerabilities in critical systems;
  • Proactively predict threats, especially and specifically for targeted cyberattack; 
  • Automatically detect important offensive tactics and methods in critical systems;
  • Respond effectively and quickly;
  • Reduce the likelihood of an attack succeeding and becoming an ‘event’ that takes a lot of time to control. 

6. Increase action-oriented insight and reduce alert fatigue 

Day in, day out, IT professionals have to deal with countless security alerts originating from various security tools used within the company. Research by the Cloud Security Alliance shows that more than 31% of IT security specialists do not respond to these alerts, as most of them are false positives.  

In short, alerts often fail in their purpose: they’re either not usable or don’t contain information that could be used to take action. This form of alert fatigue increases the likelihood that actual cyberattack will go unnoticed. 

‘Over 31% of IT security specialists don’t respond to security alerts, due to the high number of false positives.’ – Source: research by The Cloud Security Alliance 

Many cyber-security solutions cause integration problems when exchanging data, resulting in inefficient and ineffective data silos. MSSPs usually have integrated technical solutions that fully focus on action-oriented alerts. 

So if your MSSP sends you alerts, these are hardly ever redundant or unusable. 

Most MSSPs use technology of all types and sizes that in-house specialists have integrated over time for businesses. The MSSP therefore offers solutions that avoid situations where IT staff receive endless alerts, while at the same time increasing response efficiency. Moreover, thanks to the insights provided by an MSSP, you can set easily measurable goals for cyber security. 

7. Scalability 

Another benefit is that MSSPs can be scaled perfectly to your needs, and the required security IT infrastructure can be easily adapted. So if you temporarily need extra capacity, you simply scale up. Resources automatically grow with your capacity needs. And if you need to scale back at a later time, you can. MSSPs respond quickly. 

8. Good guarantees and fast response times 

why is risk of cyberattack growing

Good MSSPs offer Service Level Agreements (SLAs) alongside their 24-hour, 7-days-a-week, 365-days-a-year support An SLA contains guidelines for customers on incident response times and guarantees in the event of security incidents.  

In short, all potential risks associated with cyber threats are shifted from your organization to a specialized third party, the MSSP. 

Conclusion 

Cybercrime is evolving at an incredible pace, with even the largest international companies discovering vulnerable points in their security systems. Without proper protection, tracking these threats would take an awful lot of time and energy, not to mention manpower and salaries for qualified in-house IT specialists. 

Today’s threat landscape poses a real risk to your sensitive data, profitability, and reputation. IT security is an ongoing activity that requires a clear understanding of how users, customers, and applications access data and how devices are configured. An MSSP is the solution and also provides Regular Cyber Security Assessments. 

Cost savings 

It’s often the cost that prevents a company from hiring MSSPs. But that’s a misconception. Hiring these providers usually saves your organization a lot of money: 

  • Reducing costs after a cyber-security incident;
  • Fewer costs for hiring in-house experts and further training staff;
  • 24-hour protection prevents intrusion and avoids costs;
  • No high investment costs;
  • Good prior insight into costs;
  • The insight an MSSP gives into cost savings is crucial. 

An MSSP for your organization 

Cyber security should support rather than hinder innovation and change. Manageable, flexible, resilient, and responsive protection gives your organization what it needs. If you are looking for best IT solutions for your company, be free to contact us at Demakis Technologies.

Here’s How Managed Security Services Works

Here’s How Managed Security Services Works

More and more organizations are investing their security budgets into managed security services. An evolving threat landscape requires skilled security talent and expertise yet there is a major imparity in finding qualified talent and a need to monitor and manage security events on a 24/7/365 basis. In this blog, we share how managed security services work as well as some key benefits of using a managed security service provider (MSSP).   

What is Managed Security Services? 

Managed security services include outsourced monitoring and management of your security systems and devices. An MSSP manages your Security Incident and Event Management (SIEM) tools, Intrusion Detection Systems/Intrusion Prevention Systems, firewalls, anti-virus, vulnerability and compliance management, and more. 

How Managed Security Services Works

Organizations use MSSPs to offload the tedious work of managing and monitoring hundreds if not thousands of security incidents and events a day. If your organization lacks in-house security resources, the expertise, or the time to monitor and manage your security environment continuously then managed security services is a beneficial choice. 

Fully- Managed vs. Co-Managed Security Services 

There are two types of managed security services: Fully-managed and Co-managed security services. 

Fully-Managed Services – the security services provider owns the security technologies and manages and monitors the security events generated from these tools and technologies. If your organization is budget conscious or if you don’t have internal resources to learn and manage an array of the latest technologies, then fully-managed security services are most likely a good fit. 

Co-Managed – If your organization owns an array of security technologies and is short on internal security resources required to manage these solutions on a 24x7x365 basis, then co-managed security services are beneficial. You can eventually bring the monitoring and management of technologies back in-house as your organization scales and you build a Security Operations Center (SOC).  

An MSSP can educate and inform you about each tool’s features, functionality, and set up the best configuration. In addition, co-managed security services allow your staff to focus on other strategic security projects and offload the intensive job of monitoring and managing events during non-business hours. Hence, why many MSSPs offer 24x7x365 coverage. 

Managed Security Services how it works

Threat Monitoring & Management 

Today’s security landscape requires continuous monitoring and investigation of threats. Security data is collected from a variety of sources, and an MSSP can use this to identify correlations in your security incidents, ultimately, pinpointing anomalies and malicious activity. 

A team of security analysts at an MSSP will evaluate your security data and determine if these incidents should be turned into security events with alerts.  If so, tickets are opened and notifications performed per a collection of escalation profiles, which set a priority and notify appropriately, forming an incident response playbook for your organization. 

A managed security services provider should also have security analysts trained to threat hunt. According to Carbon Black, a leading provider of Next-Gen Endpoint Protection, threat hunting is: 

“The active pursuit of abnormal activity on servers and endpoints that may be signs of compromise.” 

A common approach for many organizations with in-house security teams is to simply wait for an alert. With threat hunting, the security provider actively looks for network activity, Indicators of Compromise, and unusual endpoint activity. The analysts at the MSSP will not wait for alerts or security incidents but rather proactively look for anomalies and malicious activities. 

Incident Response and Event Investigation 

Managed Security Services find out how it works

Once a security alert is created, the MSSP team will work on remediating the incident. Your internal team may be overwhelmed with other essential security tasks. Offloading incident response to a provider allows your organization to accelerate handling incidents that before could require multiple shifts or even days to fix. 

Consider the time it may take to patch software, push out new AV signatures, investigate all aspects of the security event, and communicate a security breach to your employees and customers (if necessary). A third tier IR team can contain threats and minimize the duration and impact of a security incident by employing a team of skilled analysts that have worked on multiple customer environments. 

Security Intelligence 

Security intelligence can come from open and private sources and helps an organization improve its detection and response activities. If your organization is unable to dedicate full-time staff to threat intelligence gathering, then managed security services is beneficial. 

A leading MSSP can offer relevant threat intelligence for enabling security technologies, monitoring and reporting to your organization. Threat Intelligence provides the security team the insights needed to proactively hunt threats.  

For small to large organizations, the benefit of threat intelligence from an MSSP is that it’s based on a wide variety of scenarios across its entire client base, to have it analyzed by knowledgeable security specialists that can determine how it may impact your organization in the short term and long-term. 

Also, with a full array of security technologies and clients in-house, the managed security provider offers your organization insights into global threats in real-time. An MSSP gives your organization an advantage when defending against zero-day threats, new vulnerabilities, and ransomware that can easily evade detection. 

Perhaps this year you might consider fully-managed or co-managed security services and offload your strenuous workload of security tasks to an MSSP. 

Did you enjoy this blog article? Comment below with your feedback, or feel free to contact us to learn more about our IT solutions. 

Cyber101 Managed SIEM vs. Managed Security Service Providers

Cyber101: Managed SIEM vs. Managed Security Service Providers

What is the difference between Managed SIEM and Managed Security Service Provider?

A reader recently asked “What’s the difference between a Managed SIEM Service and a Managed Security Service Provider?” . It’s a question that doesn’t get asked often enough, and the differences can range from “pretty big” to “insanely different.”  Let’s dive a bit deeper and see what sets these two types of services apart: 

Security Information and Event Management (SIEM) systems are designed to collect and analyze security and other logs from networking devices (like firewalls) as well as servers, appliances, VM’s and other infrastructure.  In many cases they can also report on whatever they find.  While a SIEM is an invaluable tool to have as part of your security protocols, they can be difficult to manage and require specialized training to use effectively. 

Managed SIEM vs. Managed Security Service Providers

A Managed SIEM Service (MSS) is a company that does what it says on the tin.  They coordinate the collection of logs into the SIEM and handle data integrity, storage, and reporting operations.  However, it’s important to note that how much of each of those a particular MSS does can vary wildly.  Some simply coordinate gathering the logs and managing the actual SIEM platform itself; reporting on the raw data but not giving insight into what it means.   

Others handle storage and data management, but expect that the customer has one or more employees who will run reports and keep an eye on what’s actually going on.  Still others may do analysis, but report on all anomalies they find – including those that aren’t actual threats.  If your organization has cybersecurity personnel on the payroll, this service can be added into your overall security program, but probably isn’t sufficient to be a security program on its own. 

Managed SIEM: Centralized or Individual?

Managed SIEM Service providers may manage a centralized SIEM for multiple customers, or may set up and manage individual SIEM platforms for each customer.  Both methods are valid, so long as proper multi-tenancy restrictions are put in place so that customer data does not mix; and typically both types of solution sets can get the MSS job done. 

MSSP Solutions That Stand Out

Managed Security Service Providers

A Managed Security Services Provider (MSSP) will do what an MSS does as part of their package of services, but most often goes beyond that by a good measure.  MSSP will analyze the data that the logs represent to look for anomalies that may or may not be threats.  They will then analyze those anomalies to determine if a threat exists, and what impact that threat could have on the customer’s data and systems.  MSSP also has established methodologies to notify the customer of actual threats, and typically will also provide remediation guidance to help fix whatever security issues led to that threat event. 

Added to this, the majority of MSSP’s offer extended services – either as part of the base service or as add-ons purchased as bundles or a-la-carte.  For example, MSSP’s offer endpoint protection (anti-malware, Data Loss Prevention systems, etc.), email protection to stop phishing attacks and email fraud, vulnerability scanning to identify potential security issues before they become actual security issues, etc.   

MSSP Keeps You Informed On Regular Basis

MSS Providers

Since the MSSP handles so many of the individual security concerns of a customer, they also routinely set up regular briefings or meetings to relay new information to the customer and gather information about changes (upcoming or already in-place) to infrastructure, applications, etc.  This allows the MSSP’s services to best suit the changing reality of the IT landscape as more core applications move to Software as a Service, new technologies for networking are brought into play, etc.  

All of these services go beyond what would be expected of an MSS provider because they involve more than just the SIEM and the reports a SIEM can produce.  They require analysts to differentiate between anomalies that are benign and threats that need to be addressed.  These analysts are also trained in determining how significant a threat is in order to advise remediation over time or immediately.   

MSSP is also maintaining threat intelligence services to know what threats are out there, which are seeing growth and which are the most dangerous, and which are most likely to impact their customers at any given point in time.  And, of course, systems that handle vulnerability scanning, email, and endpoint protection are totally outside the scope of a SIEM, and wouldn’t be expected of an MSS; but are standard offerings for an MSSP. 

Conclusion

In short, an MSSP will offer MSS as part of their overall service packages, but typically an MSSP will go far beyond just managing the SIEM for a customer.  Which is the best fit for you depends on what IT and Cybersecurity talent you have on staff, if they can be used 24/7, and what hardware and/or software you have or are willing to acquire and manage from a security perspective.  You also need to know if you have the skill-set and tools to go beyond what a SIEM can offer.  If any of those points aren’t already part of your organization, then an MSSP is the way to go as they can supplement your staff, work with your IT partners, typically offer 24/7 services, and bring all the tools and skills required with them.

If you are looking for best IT solutions for your company, be free to contact us at Demakis Technologies.