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ConnectWise’s new security predictions

ConnectWise released their 2022 MSP Threat Report – and the headline isn’t great.     The report predicts continued financial losses from ransomware attacks and an increase in legislation.

Two key findings.

The market will see an evolution of a “super-MSP” – MSPs that have joined together, through mergers and acquisitions, because of private equity with deep financial pockets that have entered the channel. 

Ransomware operators will continue to shift focus on mid-tier organizations capable of decent-sized payout but will not get as much public attention when compromised.

Previous versions of the report were done by Perch security, which was purchased in 2020 by ConnectWise. 

As per an analysis by Digital Shadows,…. Over half of all ransomware attacks reported during the first three months of this year are the work of just two cybercriminal outfits.    LockBit2.0 and Conti take the title, with 58% of all incidents.  

Why do we care?

I don’t think the security prediction is anything groundbreaking.  Instead, the subtle predicted shift in the business model is interesting.  Will ransomware operators move “upmarket” and target more prominent companies?   I’m not so sure – as anyone who studies product development knows, there is a market for a volume game with high volume and low transaction size, and there is also a market for more premium products at a higher price point to a smaller audience.

I’d say it will be both.    This is and, not or.

Predicting the super-MSP is an easy one because it’s already happened.   No risk there.      

We care because it’s been acknowledged by a player in the space, and they said it out loud.