SOC 2 reports evaluate internal controls to see how well a company identifies, assesses, mitigates, and monitors risks. In the context of third-party risk management (TPRM), a SOC 2 can give you confidence that your critical vendors are following best practices to protect your data. If you’re getting started with SOC 2 for third-party risk management or need an update, this blog has got you covered.
Cyber attacks aren’t just on the rise; they are skyrocketing. Incidents of ransomware alone nearly doubled last year. A new study by CrowdStrike finds that ransomware-related data leaks increased by 82% in 2021. Furthermore, ransom demands now average $6.1 million per incident, a 36% increase from 2020. Clearly, reacting to and remediating security threats when they arise is not going to cut it anymore.
New research from the Cyentia Institute found that 98% of organizations do business with a third party that has suffered a breach. The report also found that the average firm has 11 third-party relationships and hundreds of indirect fourth- and nth-party relationships. Bottom line: an expanding attack surface makes companies more prone to cyberattacks.
Zero trust is a cybersecurity approach that restricts network access so only the right people are accessing the specific information they need —and nothing more. Here’s everything you need to know about the basic principles of Zero Trust and how to apply them to your third-party risk management program (TPRM) to create more secure remote access connections.
Many major stories about cyberattacks or data breaches have one weak link in common: passwords. Oftentimes, the simple alphanumeric password that acts as gatekeeper to our personal phones and email accounts is the same one that protects enterprise businesses’ servers. And passwords are only as strong as we make them. Unfortunately, though, most employees—76 percent of Americans, according to research we conducted in 2022—never change their passwords, or only do so when forced to.
It’s not easy being a cybersecurity leader these days. Security vulnerabilities in software, hardware, and devices are rising in number and severity, bringing with them risk of ransomware, breach, and other dangerous cybersecurity incidents. The risks presented by vulnerabilities are rising fast: Here’s the important question: With cyber vulnerabilities rising and presenting increasingly serious risks, are organizations doing enough to fight back? The answer might surprise you.
