Third Party Data Breaches Impact Companies Up and Down the Supply Chain

A recent report from the cybersecurity firm BlueVoyant underscores the increasing number of third party data breaches that are affecting businesses up and down the supply chain. The report, Managing Cyber Risk Across the Extended Vendor Ecosystem, found that around 93 percent of organizations having experienced a direct data breach over the past year have been so damaging because they propagated throughout the compromised vendor’s supply chain. “The lack of visibility, monitoring and senior-level reporting, underscores a need for further improvement when approaching third-party cyber risk, in order to reduce the exposure of data before attackers take advantage of this,” according to Adam Bixler, global head of third-party cyber risk management at BlueVoyant. Consequently, organizations should continuously be evaluating their vendors to manage risk from third-party breaches and be ready to take swift action when incidents arise. Read more at InfoSecurity.