Tag Archive for: holding

What’s Holding Managed Security Service Providers Back?

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As CEO of Logpoint, Jesper is an expert on business and cybersecurity innovation.

Managed security service providers (MSSPs) enable organizations to outsource their security operations cost-effectively. Rather than devoting spend to building and maintaining an in-house security operations center (SOC), organizations can obtain such services from the MSSP and benefit from their scalability and expertise.

However, to obtain their business, MSSPs must compete effectively by delivering real-time managed detection and response SOC services. All indications are that they are currently struggling to do that.

We conducted a survey of MSSPs and found that 65% thought their SOC operations might be losing time due to inefficient processes, creating an increased risk to their customers through slower incident response times. Some SOCs were not integrated with other technologies, for instance, and only 25% were using automated playbooks or procedures for alert response—meaning the vast majority were manually reviewing their system alerts.

Consequently, over half (57%) said the gap between mean time to detect (MTTD) and mean time to respond (MTTR) was below expectations. It’s a gap being widened by SOC operations failing to automatically feed threat intelligence to security solutions such as endpoint detection and response (EDR), firewalls and user management—delaying detection and response further. Moreover, a third of those questioned (35%) said they did not have the best processes or tools for building detection patterns, preventing them from identifying emerging threats.

Forward-Thinking

There is a clear understanding of where MSSPs are today versus where they want to be, with most stating they intend to create new services over the next 12 to 24 months—including EDR, network detection and response (NDR), managed computer security incident response team (CSIRT), security orchestration and response (SOAR), managed detection and response (MDR), and SOC for small and medium-sized businesses. In order to roll out such services, MSSPs need to reassess their business processes now and explore how they can implement automation and orchestration.

Automation sees technology used…

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Ransomware is the biggest malware threat — avoid hackers holding your data hostage

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Ransomware is an ongoing scourge, with the nasty malware impacting users and large-scale organizations alike. We’ve seen AMD and Intel suffer from data leak in an active Gigabyte ransomware attack, Microsoft dealing with a massive email hack, and Cyberpunk 2077 developers CD Projekt Red under fire with a nasty security breach — and that’s just in 2021.

As Check Point Research (CPR) has discovered, the surge of ransomware attacks kicked off in the third quarter of 2020, with a 50% increase in daily average attacks compared to the first half of that year. Have these attacks subsided? Not a chance. In fact, ransomware skyrocketed to 93% in 2021, and attacks — like Foxconn production being disrupted — continue to this day. Yikes.

The intrusive software can be seen as the worst form of malware, as sometimes, all it takes is a simple phishing email to have your files, documents, and PC locked down, only to be set free if users comply with ridiculous ransom demands. The good news is there are a few ways to evade any dire data hostage situation.

What is ransomware? 

Ransomware is extortion software used by hackers to deny access to files on a victim’s device, encrypting user data and demanding a ransom payment in order to gain access to them. These attackers often threaten users with leaking the data they’ve locked down, and, in some cases, even let a little slip to the public to let victims know they mean business.

Think of it as someone changing the lock to your home and holding the only keys to get it open again. If a ransom is paid off, hackers will release the decryption key for users to gain access to their files again. These threat actors may not even have big plans to use this data in any way, but once they receive payment, they’ve won.

Other forms of ransomware have attackers effectively stealing data (a.k.a data theft), giving them full reign to leak this data online. What’s worse, users may not know what data has been stolen, allowing hackers to manipulate what data they are threatening to leak and enforcing fear, all to make sure they get the cash they demanded. 

(Image credit: Zephyr_p/Shutterstock)

As an example, during the CD PROJEKT Group data breach, the…

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Groups of hackers are said to be holding Bandai Namco hostage for ransom – Bestgamingpro

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Hacker organisation ALPHV has purportedly hacked Bandai Namco, according to vx-underground, a Twitter account that analyses malware. The organisation claims to have “ransomed” the publisher by breaking into the company’s network security.

The term “ransomware” refers to computer malware that encrypts all of the data on a system or systems it infects. The information is then returned to its rightful owners when the ransom has been paid. In recent years, this kind of extortion has become a common practise.

It’s not the first time a gaming firm has been targeted by ransomware. In 2020, Capcom was hacked, followed by assaults on Electronic Arts and CD Projekt Red in the following year. The ransom was declined by all three businesses.

It’s important to keep in mind that in these assaults, we’re not only talking about video games. As much information as possible is gathered and encoded by the hacking groups. In the past, these assaults have resulted in the disclosure of private information such as employee details, corporate financials, and more.

Bandai Namco has been contacted for comment and will be included in any updates to this article.

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Jamf Holding Corp. (JAMF) CEO Dean Hager on Q1 2022 Results – Earnings Call Transcript

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Jamf Holding Corp. (NASDAQ:JAMF) Q1 2022 Earnings Conference Call May 10, 2022 4:30 PM ET

Company Participants

Dean Hager – Chief Executive Officer

John Strosahl – President & Chief Operating Officer

Jill Putman – Chief Financial Officer

Jennifer Gaumond – Vice President, Investor Relations

Conference Call Participants

Brian Essex – Goldman Sachs

Rob Owens – Piper Sandler

Matt Stotler – William Blair

Joshua Reilly – Needham

Nick Mattiacci – Craig-Hallum

Vinod Srinivasaraghavan – Barclays

Joey Marincek – JMP Securities

Operator

Thank you for standing by and welcome to the First Quarter 2022 Jamf Earnings Conference Call. [Operator Instructions] As a reminder, today’s program is being recorded. And now I’d like to introduce your host for today’s program, Jennifer Gaumond, Vice President, Investor Relations. Please go ahead.

Jennifer Gaumond

Good afternoon and thank you for joining us on today’s conference call to discuss Jamf’s first quarter financial results. WIth me on today’s call are Dean Hager, Chief Executive Officer, Jill Putman, Chief Financial Officer, and John Strosahl, President and Chief Operating Officer. Before we begin, I’d like to remind you that shortly after the market closed today, we issued a press release announcing our first-quarter financial results. We also published a Q1 earnings presentation and updated investor presentation and Excel file containing quarterly financial statements to assist with models. You may access this information on the Investor Relations Section of Jamf.com. Today’s discussion may include forward-looking statements. Please refer to our most recent SEC filings, including our most recent annual report on Form 10-K, where you will see a discussion of factors that could cause actual results to differ materially from these statements. I would also like to remind you that during the call, we will discuss some non-GAAP measures related to Jamf’s performance. You can find the reconciliation of those measures to the nearest comparable GAAP measures in our SEC filings and press release. Additionally, to ensure we can address as many analyst questions as possible during the call, we ask that you please limit your…

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