Vendor Risk Management: It’s a Risky Business
Vendor actions are causing serious breaches, exposing millions of private records across industries, literally from soup to nuts. In fact, breaches caused by third parties are rising at such a rate that a major consulting firm ranks third party action as the number one cybersecurity risk in the financial services industry.
There are several reasons why organizations do not examine their vendor management practices as well as, assess and improve the information security and technology components. In CIO Story, John Brady, CISO, Secure-24 discusses how to effectively manage third party vendors to avoid security breaches.