Every vendor you trust and every employee you hire could be your next security crisis—explore the realities of third party risk and insider threats on this episode of Razorwire!

Join us for a discussion on the multifaceted challenges of third party risk and how they can destabilise your organisation. From the growing complexities of cloud providers like AWS and Azure to detecting and dealing with insider threats, our conversation covers it all.

We also break down a case study involving indemnity and insurance settlements following a breach incident, providing you with practical takeaways for enhancing your own security protocols.

Key takeaways:

Strengthen Your Third Party Risk Management -
Implement contractual audit rights early in vendor relationships
Develop resilience plans for vendor service failures
Understand the risks of supply chain dependencies (third parties of third parties)
Plan for scenarios where key service providers might fail or be compromised

Understand and Mitigate Insider Threats -
Identify different types of insider threats (accidental, disgruntled employees, corporate espionage)
Monitor for behavioural changes and suspicious activity patterns
Implement ongoing background checks and security clearance reviews
Balance monitoring with employee privacy and company culture considerations

Address Modern Security Challenges -
Evaluate the cost-benefit trade-offs between in-house and outsourced services
Implement monitoring solutions that correlate data from multiple sources
Develop security strategies that account for both human and technical factors
Create comprehensive risk assessments that include both internal and external threats.

Join us on Razorwire as we untangle the complexities of third party risk and insider threats, providing you with actionable insights to fortify your organisation's cyber defences.

On the inevitability and scale of third-party breaches:
"It's inevitable. You're gonna have a third party breach. There's about, what, 10 a day... You could do all the due diligence in the world and all the security checks about this. You could have a very robust vendor risk management, whatever you wanna call it. At the end of the day, it's gonna take one little, maybe insider threat on the third party side, and that will cause a breach."

Iain Pye

Listen to this episode on your favourite podcasting platform: https://razorwire.captivate.fm/listen

In this episode, we discuss:

• Implementing Third Party Audit Rights: Secure your organisation by establishing robust audit rights in vendor contracts before engagement begins.
• Evaluating Cloud Provider Stability: Assess and mitigate risks when selecting cloud providers by verifying their financial stability and data migration capabilities.
• Preventing Insider Security Breaches: Distinguish and protect against both intentional and accidental internal security threats through targeted controls.
• Building a Strong Security Culture: Foster an environment where employees actively report and respond to security warnings rather than normalising them.
• Managing Employee-Related Risks: Develop strategies to identify and address employee dissatisfaction before it becomes a security threat.
• Controlling Access Privileges: Implement strict access management protocols to prevent credential misuse and unauthorised access sales.
• Managing Supply Chain Security: Build resilience into your supply chain by mapping dependencies and establishing clear liability frameworks.
• Implementing Comprehensive Behavioural Monitoring: Deploy systems that analyse multiple data sources (login patterns, email access, data transfers) to identify suspicious user behaviour patterns.
• Protecting Against Espionage: Apply updated legal frameworks like the UK National Secrets Act to safeguard intellectual property and sensitive information.
• Deploying Dynamic Security Monitoring: Establish continuous monitoring systems for both employees and third parties to detect threats early.

Other episodes you'll enjoy
Cybersecurity Burnout and Organisational Culture with Yanya Viskovich & Eve Parmiter
https://www.razorthorn.com/cybersecurity-burnout-and-organisational-culture-with-yanya-viskovich-eve-parmiter/

The Art of Cyber Deception: How To Get Inside The Mind of A Hacker with Rob Black
https://www.razorthorn.com/the-art-of-cyber-deception-how-to-get-inside-the-mind-of-a-hacker-with-rob-black/

Connect with your host James Rees
For more information about us or if you have any questions you would like us to discuss email podcast@razorthorn.com.

If you need consultation, visit www.razorthorn.com, We give our clients a personalised, integrated approach to information security, driven by our belief in quality and discretion.

Website: www.razorthorn.com