Due diligence is one of the most important steps before starting a partnership with a third-party business, as it reveals any hidden risks or vulnerabilities that could harm your network. In this blog, we will define third-party due diligence, explore the benefits of conducting cybersecurity due diligence, and describe how to get started.
The increased connectivity in modern vehicles adds convenience to drivers and passengers. However, it also sets in motion a proliferation of new cyber threats. Automotive manufacturers and suppliers are working to protect against these threats, identifying and implementing best practices needed to make modern vehicles more resistant to cyber-attacks.
Since the start of the pandemic, the cyber insurance industry has been facing its biggest challenge to date. A ransomware crime spree is demonstrating the speed and scale of cyber risk and how this type of risk is unlike any other insurable risk. The number of ransomware attacks increased by 150%. Total ransoms paid are up 311%. The dramatic rise in frequency and severity resulted in a record high loss ratio of 67% for insurance carriers.
The second a system is connected to a network, it becomes vulnerable to a cyber attack. We’ve seen news of companies experiencing cyber attacks across different industries more often than we can count. But now that the automotive industry has joined the digital bandwagon, cybersecurity threats and attacks are also becoming an issue.
From nation-state threat actors to typical cybercriminals, the public sector faces a multitude of cybersecurity threats. At the same time, public-sector organizations struggle to maintain a robust cyber hygiene posture because they need to balance limited budgets with complex IT environments and highly interconnected ecosystems.
You can't do business without your vendors. They support critical elements of your organization, from cloud storage services to payment processing to physical items like office supplies or physical components. Your vendors make your organization run more efficiently – but sometimes at a risk to your financial, reputational and operational resiliency.
By 2025, there will be more than 100 zettabytes of data stored in the cloud – that’s a lot of data! With more applications needing to process a significant amount of data in real-time, there is a shift in demand for distributed cloud and edge computing. Fortunately, the distributed cloud brings many impressive benefits to organizations – generating immense cost savings, greater scalability, and reaching resource-intensive business demands.
As organizations look to take their 2022 security concerns head-on, they need to create resilient cybersecurity programs that help them make smarter, faster, informed decisions. In our recent webinar, I had the pleasure of chatting with security professionals Mike Wilkes from SecurityScorecard, Scott Fuller from Access Health, and John Beal from St. Charles Health. They discuss the challenges they face and how their security plans for 2022 to mitigate risk across their entire ecosystem.
The 2022 new year is here! That means it’s time to bid farewell to the winter of 2021. At the same time, looking at security trends can give us insight into the future. Last year was a record-breaking year for data breaches. According to the Identity Theft Resource Center (ITRC), the number of publicly reported 2021 breaches in the first three quarters of this year exceeded the total number of incidents in the entirety of 2020.
Cybersecurity professionals are facing an unprecedented amount of scrutiny. Not only are they responsible for securing and protecting their organizations, but they also need to prove that their ideas and strategies for doing so have a meaningful impact. This can be hard when the threat landscape is constantly changing and new tactics to fight cyberattacks shift regularly.
