Category Archives: third party risk management

Third-party breaches hit 90% of top global energy companies

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A new report from SecurityScorecard reveals a startling trend among the world’s top energy companies, with 90% suffering from data breaches through third parties over the last year. This statistic is particularly concerning given the crucial function these companies serve in everyday life. Their increased dependence on digital systems facilitates the increase in attacks on […]

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Increasingly Sophisticated Cyberattacks Target Healthcare

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It’s rare to see 100% agreement on a survey. But Porter Research found consensus from business leaders across the provider, payer and pharmaceutical/life sciences industries. Every single person agreed that “growing hacker sophistication” is the primary driver behind the increase in ransomware attacks. In response to the findings, the American Hospital Association told Porter Research, […]

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Securing Your Supply Chain Through Cyber Risk Management

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Supply chain risk is now recognized as a top challenge, with more than half of security breaches attributed to supply chain and third-party suppliers. This can be a costly vulnerability. The global average data breach cost was $4.35 million last year, according to IBM’s Cost of a Data Breach 2022 report. These risks stem from […]

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How to Effectively Manage Third-Party Supply Chain Risks

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Third-party risks are widespread in the supply chain and can cause substantial damage. Loss of revenue and sensitive information, operational downtime, legal complications, compliance issues and damaged reputations can all arise from a single breach. If your company lacks a reliable third-party risk management plan, it’s almost impossible to bring in vendors without exposure to […]

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Third-Party Risk Management: How to Get Your Vendors on Board

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So you’ve finally stood up a proper third-party risk management (TPRM) program. You’ve got your vendors inventoried, their risks assessed and technologies selected to keep them on the straight and narrow. That was the easy part, believe it or no… Continue reading Third-Party Risk Management: How to Get Your Vendors on Board→