The second UpGuard Summit of 2024 kicked off at the end of May, welcoming security professionals from APAC, EMEA, India, and the U.S. to discuss key developments and strategies across the cybersecurity industry. This quarter’s event focused on third-party risk management (TPRM), specifically how security teams can use automation to eliminate manual work and streamline critical TPRM workflows and processes.

We are delighted to announce that UpGuard has once again been recognized as the Leader in Third-Party and Supplier Risk Management Software by G2. The publication of G2's Summer 2024 report marks eight consecutive quarters were UpGuard was named a Category Leader. Established in 2012, G2 is a trusted resource for software reviews and customer feedback. It guides over 90 million users, including employees from all Fortune 500 companies, in making informed software choices.

The first Network and Information Systems (NIS) Directive, introduced in 2016, was a key regulation that enhanced the EU’s cybersecurity posture, laying the foundation for protecting critical infrastructure and essential services from cyber threats. However, as cyber threats have evolved, so too must the regulations that protect against them. Enter NIS2—an updated and more comprehensive directive designed to address the gaps and limitations of its predecessor.

The faster an identity breach is detected, the faster an organization can take steps to reduce the impact of the data breach. Faster detection times and notifications to impacted staff and organizations can result in lower data breach recovery costs and help save a company’s reputation.

Security misconfigurations are a common and significant cybersecurity issue that can leave businesses vulnerable to data breaches. According to the latest data breach investigation report by IBM and the Ponemon Institute, the average cost of a breach has peaked at US$4.35 million. Many data breaches are caused by avoidable errors like security misconfiguration. By following the tips in this article, you could identify and address a security error that could save you millions of dollars in damages.

‍The Australian Prudential Regulation Authority (APRA) has introduced Prudential Standard CPS 230 to enhance the operational resilience of financial institutions and protect the broader financial system from disruptions. APRA CPS 230 details the crucial requirements for managing operational risks, ensuring business continuity, and overseeing third-party service providers.

Subdomain takeovers pose a significant and often overlooked threat to website security. In today's digital age, almost every business has a website to promote, inform, and provide resources to visitors. Websites that use multiple subdomains risk exposing themselves to cyberattacks. Subdomain takeovers can lead to data breaches and reputational damage. However, these risks can be minimized with the right strategies, and your organization can stay protected.

At UpGuard, we know that in cybersecurity, timing is everything. That’s why we’ve enhanced our news and incident scanning with 500% more coverage, bringing you faster insights from high-impact sources. Now, SOC analysts and security teams can catch incidents affecting their organization or supply chain sooner, allowing for quicker, proactive responses to mitigate threats before they escalate.

In today’s rapidly evolving digital landscape, managing cyber risk has become essential for sustaining corporate growth and resilience. Cyber risk management requires balancing corporate growth against the evolving tactics of threat actors and governmental regulations – a daunting task that requires continuous measurement and strategic reflection.