Third Party Cyber Risk

Third Party Cyber Risk

How the extended supply chain can impact your business.

April 7th, 2019Igor Šenkarčin, Cyber STRING

According to FORBES, the year 2019 will bring new twists and turns in the cyber landscape, particularly in small to mid-sized businesses, which carry a disproportionate amount of risk and serve as back doors into larger enterprise systems. The result, especially in a world with deeply interconnected supply chains and third-party relationships all predicated on having unfettered systems access, is a massive unmanaged vulnerability.

After the financial sevices institutions, the other industries are starting to solve their third party cyber risks, including public services. The companies and organizations are recognizing the need to show their stability also in the field of cyber security, which means start of the new Security Rating Services on the market, being in Gartner’s top 10 security projects implemented or improved by security and risk management leaders in 2019.

„Over the next five years, these services will become a precondition for business relationships and part of the standard of due care for providers and procurers of services..“ ..according to Gartner. The growing topic of current days is also a part of QuBit Prague conference, where the round table attendies will discuss and validate the new market requrements readiness. You are welcome to participate!

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