According to Netwrix’s 2024 Hybrid Security Trends Report, MSPs are facing more dire consequences from cyberattacks than other industries. The report reveals that 76% of MSPs experienced a cyberattack in the past year, with 51% dealing with unplanned expenses and 31% experiencing a loss of competitive edge. User account compromise and ransomware attacks were common in the cloud and on-premises, respectively. The report emphasizes the need for in-depth training and improvement in identity governance and administration for MSPs to maintain their competitive edge and reputation.
According to a report by Orange Cyberdefense, cyber extortion victims have grown by 77% in the past year, with small businesses being impacted four times more often than medium and large businesses combined. The healthcare industry has seen the highest growth rate at 160% year-on-year. The report also highlights the emergence of re-victimization as a concerning trend and raises concerns about the potential impact of GenAI on the cyber extortion threat.
Millions of Apple devices were left vulnerable to critical vulnerabilities in the CocoaPods dependency manager for nearly a decade. These vulnerabilities allowed attackers to claim ownership of unclaimed pods, execute arbitrary code, and hijack sessions, potentially compromising iOS and MacOS devices worldwide. The vulnerabilities were only patched in October 2023 after lying dormant since 2014.
N-able has signed the Cybersecurity and Infrastructure Security Agency (CISA) Secure By Design Pledge, demonstrating its commitment to enhancing security in its products and services. The pledge focuses on integrating robust cybersecurity practices, such as multi-factor authentication and reducing vulnerability classes.
I will call out that security as a competitive edge in sales speak. I don’t buy it – it’s table stakes, sure, but it’s not a competitive advantage. Secure by Design is a great first step in the process – it’s voluntary and without enforcement. We’re watching which players join the list. Disclosure, I’m a N-Able shareholder. Note Apple has supported the pledge too – perhaps the reason they addressed this is increased attention.