Supply chain cyber-risks are becoming more problematic to manage, according to new research from BlueVoyant, the cyber-defence company.
The firm’s latest report, The State of Supply Chain Defence Annual Global Insights, found that 95% of UK organisations have experienced cybersecurity incidents in their supply chain in the last year, with over half (59%) reporting between 2 to 5 breach incidents.
Of the 2,100 C-suite leaders questioned for the survey, 66% said that third-party cybersecurity risk management is either not a priority, or somewhat of a priority, a decrease from 68% last year.
Despite falling in priority, a majority (92%) of respondents said that their budgets for third-party cyber-risk management actually increased this year.
The study also revealed that UK supply chain monitoring and visibility is decreasing, with 34% of businesses saying they monitor third-party supplier risk monthly or more frequently, a drop from 46% in 2023.
The lack of regular monitoring is having a big impact, with more than a third (34%) of firms saying they have no way of knowing when a cyber incident occurs.
Over half of all firms (57%) said that…
