In navigating the complex landscape of regulatory compliance and risk management, India's banking sector faces unique challenges, particularly in meeting directives outlined by the Reserve Bank of India (RBI) and the Indian Computer Emergency Response Team (CERT-In). As organizations strive to adhere to these stringent requirements, Elastic Observability emerges as a powerful ally, offering advanced log analytics capabilities tailored to address regulatory mandates and mitigate operational risks.

A notable statistic has appeared in the cybersecurity research landscape: Phishing and pre-texting accounted for 73% of breaches in 2023. That’s according to the 2024 Verizon Data Breach Investigations Report, and the alarming use of humans as a vector for initial access is mirrored elsewhere.

Organizations across all industries are becoming more reliant on digital technology to get the job done. In this era of digital transformation, technologies such as the Internet of Things (IoT), social media, Machine Learning (ML), big data analytics, Artificial Intelligence (AI), and Augmented Reality (AR) exist to help organizations realize their strategic business objectives.

Accounting is a core function in every business. Organizations need accounting teams to track revenue and expenses, evaluate financial performance, create budgets and financial projections, and maintain compliance. Skilled accountants provide up-to-date financial information to support decision-making. Unfortunately, the word “accounting” is often followed by the word “scandal,” especially given examples such as Enron, WorldCom, Tyco, Hertz, Lehman Brothers, and Bernie Madoff.

Across today’s interconnected business landscape, organizations are increasing their reliance on third-party vendors and service providers to streamline operations, reduce costs, and access specialized services and expertise. This increased dependency on third parties introduces significant organizational risks, including data privacy violations, operational disruptions, reputational damage, supply chain attacks, and devastating data breaches.

With third-data breaches and their subsequent financial impacts on the rise, Third-Party Risk Management is becoming a non-negotiable inclusion in an organization’s cybersecurity strategy. For those new to this risk management area, this post outlines a high-level framework for applying TPRM principles to a third-party risk context. Learn how UpGuard streamlines Vendor Risk Management >

Every cybersecurity team is being challenged to do more with less. CISOs experience top-down pressure to maximize the value of their resources, consolidate vendors as much as possible, and optimize their tool stack. And, they have unchanged expectations of keeping their organization safe across ever-growing digital supply chains. But traditional approaches to VRM often leave cybersecurity teams grappling with a tangled web of manual processes, disparate tools, and fragmented data.