Managed Security Services, MSSP, MSP

Managed Security Services Provider (MSSP) Market News: 15 September 2023

Each business day, MSSP Alert delivers a quick lineup of news, analysis and chatter from across the managed security services provider ecosystem.

  • The Content: Written for MSSPs and MSPs; threat hunters; security operations center as a service (SOCaaS); managed detection and response (MDR) and eXtended detection and response (XDR) providers; and those who partner with such companies.
  • Frequency and Format: Every business morning. Typically, one or two sentences for each item below.
  • Reaching Our Inbox: Send news, tips and rumors to Managing Editor Jim Masters: [email protected].

Today’s MSSP, MSP, MDR, XDR and Cybersecurity Market News

1. Security Partnership: Ostrich Cyber-Risk, a cyber-risk management company, announced that it has joined the Cyber Risk Institute (CRI), a globally recognized not-for-profit coalition of financial institutions and trade associations that strives to sharpen cybersecurity to protect the global economy. By working together, Ostrich Cyber-Risk and CRI will help financial institutions measure their security program capabilities to achieve greater cyber readiness and enhance cybersecurity and resiliency through standardization.

2. Funding Boost: Deduce, provider of a technology platform designed to prevent AI-generated identity fraud, announced $9 million in funding led by Freestyle Capital, with additional investment by Foundry and True Ventures. The funding will launch Deduce’s GenAI Identity fraud solution out of stealth.

3. U.S. Defense Contract Award: Rebellion Defense has been awarded a contract to deliver continuous automated penetration testing to systems and applications for the Army Program Executive Office for Command, Control, Communications-Tactical (PEO C3T). “PEO C3T is the linchpin to bringing the Army’s vision of a data-enabled common operating picture to life,” said Barry Sowerwine, interim CEO at Rebellion Defense. “Rebellion Nova will help strengthen the Army's systems against adversarial cyberattacks.”

4. Industry Alliance: Trend Micro has joined the Hacking Policy Council, an organization dedicated to advocating for security research and testing among policymakers. The Hacking Policy Council was founded by the non-profit Center for Cybersecurity Policy and Law alongside Google, Intel and other industry names. The council reinforces the importance of a collective effort to advocate for cybersecurity best practices.

5. Cybersecurity Incident: Shell said on Friday that it had identified a cybersecurity incident involving some employees at BG Group in Australia, the latest company to be hit by the MOVEit hack. Several businesses globally have reported cybersecurity breaches involving the MOVEit software tool, which is typically used to transfer large amounts of often sensitive data, including pension information and social security numbers. (Source: Reuters)

6. MGM Hack Update: The Scattered Spider hacking group said on Thursday it took six terabytes of data from the systems casino operators MGM Resorts International and Caesars Entertainment, as both companies probed the breaches. A representative for the group reportedly said it did not plan to make the data public, and declined to comment on whether it had asked the companies for ransom. (Source: Reuters)

7. Cyber War Operation: The US Cyber Command (CYBERCOM) deployed a team of cyberwarfare experts near Russia to conduct a “defensive hunt operation” amid the ongoing war in Ukraine. The American cyber specialists analyzed critical networks for evidence of malicious cyber activities in cooperation with counterparts from the Lithuanian Interior Ministry Information Technology and Communications Department. (Source: The Defense Post)

Jim Masters

Jim Masters is Managing Editor of MSSP Alert, and holds a B.A. degree in Journalism from Northern Illinois University. His career has spanned governmental and investigative reporting for daily newspapers in the Northwest Indiana Region and 16 years in a global internal communications role for a Fortune 500 professional services company. Additionally, he is co-owner of the Lake County Corn Dogs minor league baseball franchise, located in Crown Point, Indiana. In his spare time, he enjoys writing and recording his own music, oil painting, biking, volleyball, golf and cheering on the Corn Dogs.