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Vendor Contract Do’s and Don’ts – BitSight Guest Blog

According to an Opus and Ponemon Institute study, 59% of companies have experienced a data breach caused by one of their vendors or Third Parties — while only 16% claim they effectively mitigate Third-Party risks.   Don’t be a part of these alarming statistics: In order to protect your organisation’s valuable information, it’s critical that you set…

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GDPR’s 2nd Birthday – Are You Late To The Third Party?

As we see an ever-increasing stream of high-profile data breaches and regulatory fines Sean O’Brien, Director DVV Solutions, takes a look at one of the most common weak links in law firms’ data security and GDPR compliance programs – the risks posed by third parties and suppliers. The EU General Data Protection Regulation (GDPR) and…

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Report Shows Cyber Attacks on Cloud Services Have Doubled

As cloud services increase in popularity, a worrying cybersecurity trend has emerged. According to the 2020 Trustwave Global Security Report, the volume of attacks on cloud services more than doubled in 2019 and accounted for 20% of investigated incidents. Although corporate and internal networks remain the most targeted domains, representing 54% of incidents, cloud environments are…

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Supply Wisdom Granted Patent for Real-time & Continuous Risk Monitoring Solution

Patent covers Supply Wisdom’s proprietary technology & methodology for quantifying risk associated with Third Parties & geographic locations.   Supply Wisdom, the leader in real-time and continuous risk intelligence, announced today that the US Patent and Trademark Office has issued Patent No. 10,643,165B2 for its risk monitoring solution. The patent covers the technology and methodology used to…

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POS Cybersecurity Under The Spotlight: BitSight Research Reveals Vulnerabilities in Point of Sales Systems

Study puts POS cybersecurity under the spotlight When people talk about cybersecurity risks, the first area that normally comes to mind is malware. Some might even consider that it’s the worst event that can happen, as it normally indicates that a malicious actor has already bypassed the layers of security and now has free-reign to…

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Third Party Financial Health A Leading Indicator for All Areas of Risk – Output from Shared Assessments’ Working Groups

Complexity and uncertainty in the supply chain have increased exponentially in recent months leading to higher risk related to all aspects of third parties and supply chains. With the economic downturn expected to continue due to the destabilising impacts of COVID-19, members of the Shared Assessments’ Vertical Strategy Groups and Continuous Monitoring Working Groups collaborated…

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Globalisation & Third Party Risk Oversight: Is Location Risk Monitoring on your Radar?

Globalisation has enabled, and in many cases demanded enterprises, both large and small, to generate value through a globally distributed third party network. Manufacturing in China, IT from India, outsourcing to the Philippines, and near-shoring with Mexico are results of a willingness to source globally and extract value and realise the benefits and unique advantages…

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Understanding a Vendor’s Cybersecurity Risk – BitSight Guest Blog

Did you know that, according to an Opus and Ponemon Institute study, 59% of companies have experienced a data breach caused by one of their vendors or third parties? During these uncertain times, when many industries are shifting to an increasingly remote workforce, organisations may feel pressure to accommodate new business requirements by onboarding new…

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Optimise Your Vendor Onboarding Process With Security Ratings

Third parties can play an essential role in your ability to grow your business and remain competitive. That is why, according to Gartner, 60% of organizations now are working with more than 1,000 third-parties, including partners, sub-contractors, and suppliers. Of course, if you’re not careful, these trusted partnerships may introduce unwanted cyber risk into your…

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Key learnings and takeaways from the Supply Wisdom COVID 19 – Conversation with TPRM Leaders webinar

Following the recent Supply Wisdom “COVID 19 – Conversation with TPRM Leaders” webinar we take a quick look at what we learnt about the current state of Third Party Risk and what can be done to improve business continuity and resiliency across the extended enterprise.   1. What problems have leaders experienced thus far? Deterioration…

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