In today's interconnected business landscape, Third-Party Risk Management (TPRM), sometimes called vendor risk management (VRM), is a critical cybersecurity strategy for organizations aiming to safeguard their operations and reputation. With most companies increasing their reliance on external vendors and service providers, managing and mitigating risks associated with these third-party relationships is paramount.

In 2013, the Australian Prudential Regulation Authority (APRA) introduced Prudential Practice Guide CPG 235, a comprehensive framework designed to enhance data risk management across the finance sector. This guide provides financial institutions with principles and best practices to safeguard data integrity, confidentiality, and availability. This blog explores CPG 235, its key components, compliance requirements, and how implementing the framework can enhance data security standards at your organization.

As cyber threats increase in complexity and frequency, traditional security methods often fall short of safeguarding sensitive data and vital systems. DevSecOps offers a groundbreaking approach by incorporating security practices into all stages of the software development lifecycle (SDLC). By uniting development, security, and operations, DevSecOps ensures that security is a collective responsibility, promoting a culture of collaboration and ongoing enhancement.

The Personal Information Protection and Electronic Documents Act (PIPEDA) is a Canadian data privacy law that governs how private sector organizations collect, use, and disclose personal information when conducting commercial activities. By setting strict requirements for private businesses, PIPEDA ensures that individuals and customers have control over how their data is managed.

Cyber security reports are an invaluable tool for keeping stakeholders and senior management informed about your cyber security efforts. This post outlines examples of some of the most popular reporting styles, with a particular focus on a field of cybersecurity drawing increasing interest among executive teams - Vendor Risk Management. Each of the cyber security report examples in this list have been pulled from the UpGuard platform.

The Cyber Incident Reporting for Critical Infrastructure Act (CIRCIA) is an important legislation that outlines how critical infrastructure sectors should deal with cybersecurity threats. CIRCIA strengthens cyber defenses by establishing comprehensive reporting requirements for cyber incidents and ransomware payments.

Cybersecurity is a critical concern for organizations of all sizes. Implementing robust security measures is a best practice and essential to protect against increasingly sophisticated cyber threats. However, the challenge is often more significant for small and medium enterprises (SMEs) due to limited resources, lack of security expertise, and other common obstacles.

Ongoing monitoring is a key step in effective Third-Party Risk Management (TPRM) that helps ensure continuous compliance, cybersecurity performance, and risk management of external vendors and service providers. It’s a necessary step that reinforces how vendors are managing their cybersecurity processes to prevent potential data breaches or reputational damage.

The Australian Signals Directorate (ASD) is a government agency responsible for providing foreign signals intelligence and ensuring information security for Australia’s national interests. The ASD also significantly enhances the nation’s cybersecurity through strategic advice, standards, and protective measures.

In an age of increasingly complex cyber threats, New Zealand has implemented robust cybersecurity standards to secure the online environment for individuals, businesses, and government entities. New Zealand's cybersecurity approach is unique and effective, from the overarching strategies laid out by national cybersecurity policies to specific regulatory requirements that impact sectors like healthcare and finance.

In today’s interconnected business landscape, outsourcing to third-party vendors and service providers is an effective method for most organizations to improve operational efficiency and lower financial costs. However, as businesses form third-party partnerships, they inherit potential risks and increase the complexity of their third-party ecosystem, as any one vendor can become an attack vector that cybercriminals exploit to pursue a data breach.

The vendor risk management lifecycle (VRM lifecycle) is an end-to-end system that categorizes critical VRM or third-party risk management processes into three phases: vendor onboarding, ongoing risk management, and continuous monitoring.

Onboarding is perhaps the most precarious phase of the Vendor Risk Management process. A single oversight could expose your organization to dangerous third-party security risks, increasing your chances of suffering a data breach. This post explains how to bolster the most vulnerable access points of the vendor onboarding process to help you securely scale your VRM program.

Vendor Risk Management encompasses a wide range of cybersecurity risk factors. As such, a VRM report design could range from highly detailed to concise, depending on the specific reporting requirements of stakeholders and the board. This list represents the most comprehensive scope of third-party risk management information to fit the broadest range of VRM reporting use cases.

Vendor risk scoring is a critical component within vendor risk management (VRM) or third-party risk management (TPRM) programs and an organization’s overall risk management strategy. Risk scoring is an integral tool in the risk assessment process, helping organizations identify, evaluate, and mitigate potential risks associated with third-party vendors or service providers.

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.

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.