Third-party supply chain risk is a key concern from Australian cyber security professionals. With enterprises typically relying on an expanding network of interconnected systems — often suppliers of suppliers — it is becoming difficult to maintain data control to ensure security.
Tesserent CEO Kurt Hansen said security professionals need strong governance and processes to ensure they are aware of all business activities. He added they need to be more conscious of how geopolitical tensions could create significant disruption to the supply chains of organisations.
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ASIC reveals third-party supply chain risk as key gap in Australia
The Australian Securities and Investments Commission exposed “gaps in cyber security risk management of critical cyber capabilities” in its business cyber pulse survey in November 2023. Digital supply chain was named by ASIC as the number one area for improvement (Figure A).
The survey found that 44% of the 697 participant organisations surveyed were not doing anything at all to manage third-party or supply chain risk….
