MSP leaders named AI as the top cause of concern for their organisation, ahead of ransomware.
Just under half of managed service providers (MSPs) have a dedicated pool of money set aside for ransomware payments.
According to research by CyberSmart, 45% have the dedicated pool of money, while 36% opt to protect themselves with cyber insurance. Only 11% of MSPs have no dedicated budget to deal with incidents.
Despite many budgeting for ransomware-related incidents, MSP leaders named AI as the top cause of concern for their organisation (44%), ahead of ransomware/malware (40%).
“With customers relying more on MSPs for cybersecurity, it is essential that MSPs are cyber secure and cyber confident themselves, which means tackling the evolving threat landscape head-on,” said Jamie Akhtar, CEO and Co-Founder of CyberSmart. “Organisations shouldn’t rely on ransomware payments; rather, they should partner with organisations that can help proactively secure them.”
Written by
Dan Raywood is a B2B journalist with 25 years of experience, including covering cybersecurity for the past 17 years. He has extensively covered topics from Advanced Persistent Threats and nation-state hackers to major data breaches and regulatory changes.
He has spoken at events including 44CON, Infosecurity Europe, RANT Forum, BSides Scotland, Steelcon and the National Cyber Security Show, and served as editor of SC Media UK, Infosecurity Magazine and IT Security Guru. He was also an analyst with 451 Research and a product marketing lead at Tenable.
