Best Practices for Managing Third Party Cyber Security Risk
Third parties can be a significant source of cyber vulnerability, and assessing and ensuring the cybersecurity of vendors and suppliers remains an area of weakness for many companies.
Some of the most significant breaches in the past few years have resulted from third parties being compromised. In fact, a recent study suggested that 63% of data breaches were linked to a third-party vendor.
The reality is that even trusted business partners can pose a security threat, and the potential legal, regulatory, financial, and reputational consequences for your company can be substantial.
Companies need a robust and efficient control process in place to ensure their third parties are following sound information security protocols. Banks in particular are focused on improving cybersecurity and are increasingly demanding similar standards from their partners, with regulatory agencies issuing guidelines to help banks assess this risk.
This webinar brings together a panel of experts to discuss pragmatic approaches for conducting third party assessments, understanding key regulatory requirements, and creating a more proactive framework for effectively addressing third-party cyber risk.