Many large companies including Uber, SolarWinds and Microsoft have suffered significant cybersecurity incidents because third parties and partners were compromised by threat actors. Criminals exploit connections between systems to find a way to steal data. And while the incidents may be initiated via a third party, the reputational and business impact rests solely with the affected organisation’s brand.
Third-party cybersecurity breaches occur when the victim’s defences are compromised through a partner or service provider. For example, if one of your suppliers’ systems is attacked, an attacker may use their access to infiltrate your systems. Regardless of the sector, business size or geography, every organisation is part of an ecosystem of suppliers, customers and partners. And every one of those third parties is an extension of that organisation’s business. That means a cybersecurity incident that impacts part of that network can impact your operations and reputation. This is not a new challenge, but the approach to managing third-party risk must evolve.
A proactive approach is crucial to identify and remediate vulnerabilities throughout supply chains before…
