In a threat landscape where organizations outsource vital business processes that leave data security in the hands of third-party information technology, vendor risk management is increasingly important. A 2022 KPMG study found that 73% of survey respondents experienced at least one significant disruption caused by a third party over the past three years.

Modern organizations are increasing cloud adoption to reap the operational benefits of outsourcing critical business functions. A 2021 study found that 90% of surveyed organizations now use cloud computing, such as software-as-a-service (SaaS) services. SaaS solutions help organizations achieve vital objectives, such as cost reductions and faster time-to-market. However, like all other digital transformation products, they also introduce cybersecurity risks.

The vendor risk management process is now an essential requirement of all cybersecurity programs. Without it, you're a sitting duck for supply chain attacks and third-party data breaches. In recognition of this, regulatory bodies are increasing their third-party risk compliance requirements and enforcing obedience by threatening heavy financial penalties for non-compliance.

As the digital world continues to rebuild after the Log4j hurricane, the threat landscape is once again disturbed by the rumbling of an approaching zero-day storm. After barely recovering from a zero-day dubbed as the worst hack ever encountered, concerns are understandably heightened, and as a result, there are many misconceptions about the severity of Spring4Shell.

Organizations must enact effective third-party risk management (TPRM) programs to ensure their vendors fulfill cybersecurity requirements. Otherwise, they risk carrying the financial and reputational harm caused by customer data breaches. The PCI DSS standard covers aspects of third-party risk management as it's applicable to all organizations that process credit card data, especially the heavily regulated finance industry.

On March 31, 2022, the Security Legislation Amendment Critical Infrastructure Protection Act 2022, also known as SLACIP, was passed by the Australian Parliament. The SLACIP Act aims to build upon the SOCI Act framework to improve the security of Australia’s critical infrastructures. To learn how the SOCI Act reforms will affect you and for guidance on how to comply with its new risk management requirements, read on.

Ransomware attacks and data breaches seem to be continuously contending for the top positions in news feeds. But what's the difference between these cyber threats and which should you be most concerned about? For a comprehensive breakdown of each type of cyberattack, read on.