The average cost of a data breach is now nearly $4 million and the unfortunate truth is third-parties are a significant source of cyber risk. This is why cybersecurity vendor risk management (VRM) has become a top priority for CISOs, Vice Presidents of Security, and other members of senior management, even at the Board level. In addition to financial costs, there are increased regulatory and reputational costs.

Every day third-party data breaches and data leaks inundated our news cycle. And for good reason, the average cost of a data breach is nearly $4 million globally. This has led to organizations looking for ways to reduce cyber risk and prevent data breaches. Vendor risk management (VRM) is now a top priority for CISOs and other members of senior management, even at the Board level.

Every day the news is filled with third-party data breaches and data leaks. And for a good reason, they often expose the protected health information and personally identifiable information of thousands or even hundreds of millions of people. For context, the Ponemon Institute estimates that the average cost of a data breach is nearly $4 million globally.

I’m very fortunate in the COVID-19 situation. My job as editor of the AT&T Cybersecurity blog lends itself well to working from home. In fact, even before the virus I had the privilege to work from home some of the time – of course with a VPN and other security measures, on company equipment. The biggest impact has been personal for me. I miss my colleagues at work. I miss the in-person laughs and socializing.

It’s hard not to say that 5G technology brings a lot of benefits. 5G entails faster download speeds, and yes, if you have a 5G-enabled handset, you could hear and appreciate the speed increases for videos, gaming, etc. However, 5G provides added benefits that go way above those for the everyday user. Let’s take a look at the high speed and low latency of 5G. There are a lot of areas or industries that require pinpoint accuracy and precision.