Chris Loehr — executive vice president of Solis Security, an incident response firm — has personally dealt with many of these MSP breaches. Speaking of GandCrab, Loehr says, "They certainly hit some MSPs in 2018, but the ransoms were relatively small: $10,000 to $25,000. In 2019, MSPs became more of a target, with increasing ransom demands and the threat actors leveraging MSP tools with greater efficiency to affect clients. GandCrab never required the MSP to pay up. It wasn't until GandCrab evolved into Sodinokibi in mid-2019 threat actors began to say: 'We ONLY want the MSP to pay. You can pay for ALL the customers or you get NOTHING at all.'"
The IT industry is a dynamic one characterized by frequent upgrades and enhancements. Innovations and solutions are invented daily which makes it very difficult for businesses to keep the pace of each innovation. The selection and adoption of new solutions may also prove costly for organizations. To stay on top of the latest technological developments that can improve your daily business operations, you must consult the best in the business.
Morgan explains that help for all SMBs is on the way. "The CyberCall has been a tremendous catalyst for the entire industry. We've already had leaders from the Center for Internet Security, Global Cyber Alliance, and others join our call. They understand that the only way the SMB sector can truly be secured is by way of the MSP. They are focused on bringing the resources, attention, and help that all MSPs and their SMB clients need in these wild times."
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In House—the process where an organization hires its own IT service providers and pays their salary, benefits, and further training, as well as the infrastructure they oversee. This is typically an extremely costly endeavor, and often businesses that try to procure in-house IT lack the capabilities to fully service their system as well as an inability to grow.
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