How MSPs Can Avoid a Cyberattack Knockout Punch 

Any boxer will tell you: It’s the punch you don’t see coming that puts you on the canvas. The same can be said for cyberthreats.

According to IBM research, it takes an average of 197 days to discover a data breach and up to 69 days to contain it. As a result, the average cost of a data breach for businesses globally in 2023 was $4.45 million, a 15% increase over the past three years. That number increased to nearly $9.5 million for organizations in the United States.

What’s more, the Adversary Pursuit Group (APG) here at Blackpoint Cyber believes it’s not just stealth, but speed that makes today’s hackers so lethally effective. Bad actors move quickly to seize on vulnerabilities and exploit them—from deploying sophisticated ransomware to carrying out social engineering schemes that manipulate employees into providing access to systems, information, or other proprietary assets.

With cyberattacks accelerating at a dizzying pace—data shows a business falls victim to a ransomware attack at least every 14 seconds—the existential difference-maker for your business is visibility. Visibility across your attack surface. Visibility across the attack surface of your clients. Visibility across your security stack. And much, much more.

When we say visibility is existential, we promise it’s not hyperbole. While the overall statistics related to breaches are staggering, midmarket companies and SMBs are being hammered harder than ever. The same IBM research referenced above found that, in 2023:

• Organizations with fewer than 500 employees reported that the average impact of a data breach increased from $2.92 million to $3.31 million (+13.4%).
• Organizations with 500–1,000 employees saw an increase from $2.71 million to $3.29 million (+21.4%).
• In the 1,001–5,000 employee range, the average cost of a data breach increased from $4.06 million USD $4.87 million (nearly +20%).

For managed service providers (MSPs) and the midmarket/SMB organizations they serve, the cost of a cyberattack can be crippling in myriad ways. According to a Techaisle survey of more than 6,000 SMBs and midmarket firms, the consequences of a security or data breach would be “severe and far-reaching,” with respondents saying a breach would result in:

• Damage to customer privacy and trust (54%)
• Harm to corporate reputation and profitability (49%)
• Challenges in complying with regulations (44%)
• Personal reputation damage for both business and IT professionals within the company (31%)

Traditional cybersecurity postures are largely defensive and leave you in the dark for too long. They wait for the attack to have happened before they respond—if they respond at all! Common solutions for MSPs and midmarket organizations typically isolate and/or investigate, but don’t actually eliminate cyberthreats. At Blackpoint, we know better. And we do better.

As the Active Cybersecurity leader, Blackpoint uniquely eliminates cyberthreats and empowers organizations to operate securely through the most advanced combination of technology and human-powered SOC services. Our elite SOC teams uniquely monitor behavior to see attacks as they’re happening, instead of threat hunting based on events that have already happened—and they take action to eliminate the threats, on the spot.

But that’s far from all…

To help our customers and the wider MSP community get ahead – and stay ahead – of their greatest challenges, we’ve introduced several new offerings to help MSPs gain the visibility they need to see clearly and secure their attack surfaces, as well as their clients’.

• Dark Web Monitoring delivers visibility into the hidden corners of the internet, with on-demand reports and automated alerts that reveal the leaked credentials that put your clients at risk for attack. With Dark Web Monitoring, your MSP can provide continuous value and enhance client trust in your expertise.
• Threat Assessment Summary provides monthly reports, offering comprehensive visibility into your clients’ exposures across their attack surface. This enables MSPs to recommend tailored solutions based on clients’ actual security posture. Threat assessments also offer a regular touchpoint with clients so you can demonstrate ongoing value.
• Blackpoint Community Protection Program lets you enjoy internal-use NFR licenses of the comprehensive Blackpoint Response security bundle, including 24/7 SOC support that responds on your behalf. With comprehensive insights into your attack surface, MSPs can operate confidently knowing elite security professionals have an eye on their business environment. Sign up at no cost here.

Learn more about our new solutions and how they can help you start seeing clearly to grow today.

• IBM Report – Cost of a Data Breach Report 2023
• Cybersecurity Ventures – Top 5 Cybersecurity Facts, Figures, Predictions, and Statistics for 2019-2021
• Techaisle Survey-The Cost of Cybersecurity Breaches for SMBs and Midmarket Firms is Huge