In this article we consider the scope of the threat, the degree to which third party security risk is regulated, political enforcement and litigation consequences and practical guidance to help identify and assess the risks.
Companies are well-informed of the need to buttress their own cybersecurity defences, but what about third parties that hold their data or with whom they share access to systems?
In 2017, no business can plead ignorance of the cybersecurity risks inherent in a digitally connected global marketplace. The headlines expose and denounce the corporate victims of cyberattacks and reel off the latest statistics about the rise of cybercrime. Businesses are, accordingly, well-informed that they must buttress their cybersecurity defences or become one of the statistics. Yet, it is often at this level of awareness that the conversation about cybersecurity ends. And, to the extent that businesses are focused on cybersecurity, that focus is concentrated only on the business’s own defences.
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