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Tuesday, January 14, 2020
Third-Party Breaches Present a Serious Risk
While everyone is well aware of the comprehensive threat landscape facing today’s companies, many forget that this threat is amplified when third-party partnerships are involved. As this week’s newsletter reminds us, these often necessary associations can place your company’s data at risk in a major way, and it’s a risk factor that every business should consider when exploring new collaborative opportunities.
For instance, many vendors are so overwhelmed by data breaches that they struggle to bring their services back online, if they survive at all. In either case, your company’s data may not be their top priority, which puts your business at risk.
Naturally, third-parties have a vested interest in pursuing what’s best for themselves, an inherent liability that every business should evaluate when making decisions. In today’s regulatory environment, organizations face intense scrutiny when a data breach occurs, even if it doesn’t originate at your company. That threat should give every company working with third parties a reason to carefully consider cybersecurity implications before signing the contract.