This article originally appeared in The Fintech Times.
Cyber-attacks have spiked in the last few years, but despite this growing concern, only 34 per cent of organisations have assessed their risk assessment and possibilities to exposure. This becomes all the more concerning as they rely on third-party software providers to enable their hybrid and remote working models – users of which are prime suspects for cyber criminals.
Speaking to The Fintech Times, Drawbridge CISO Simon Eyre highlights the importance of understanding comprehensive data flow across an organisation and vendors, why continuous monitoring is necessary, and how organisations can create proactive and reactive plans to handle third-party compromises.
According to a recent study, 56 per cent of businesses expect an increase in reportable incidents in 2022 from attacks on the software supply chain. But worryingly, only 34 per cent have formally assessed their enterprise’s exposure to this risk.
The question remains: how can business leaders best assess vendor cyber risk and apply proper safeguards and protections for relationships with third parties?
Read more at The Fintech Times.