Australian organisations are expanding their supplier networks faster than they can secure them, leaving many exposed to supply chain cyber threats, a new study from cyber firm BlueVoyant has found.
The report said Australian third party risk management programs sit among the least mature in the world. It said 99% of local respondents suffered negative impacts from a supply chain breach over the past year.
BlueVoyant’s sixth annual State of Supply Chain Defence study examined how large organisations manage cyber risk in their vendor ecosystems. An independent research firm surveyed 1,800 C-suite leaders worldwide, including 100 in Australia, across multiple industries.
Lagging maturity
The research found only 30% of Australian organisations surveyed have established or optimised third party risk management programs. This rate is slightly above the wider Asia-Pacific average of 32%. It trails the levels reported in the US and Canada by a clear margin.
The figures place Australia among the lowest-ranked regions for program maturity. The report linked this with a high incidence of damaging supply chain incidents.
Local organisations reported rapid growth in the number…
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