Supply chain cybersecurity breaches have hit alarming percentage of firms: survey

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A study by BlueVoint states that 97% of firms have been affected by cyber security breaches in their supply chain

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A new study says there is a magnet for the supply chain cyber breach.

97% of firms have been affected by cyber security breaches in their supply chain, one discovery by cyber security company bluevoyant said.

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And 93% admitted that they have faced a direct cyber security breach because of vulnerabilities in their supply chain.

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“Violations … are still too many,” said Adam Bixler, global head of third-party cyber risk management at BlueVoint. blog post.

Bixler told Granthshala Business, “Focused attackers are constantly scanning businesses for open vulnerabilities … and the business trust relationship means that if a supplier is affected, it could affect an ‘upstream’ connection.” ”

This is happening despite greater awareness of the risks and increasing cyber security budgets to deal with them. But the complexity of the people, processes and technologies needed to build a comprehensive defense against attacks means that money isn’t always spent effectively, Bixler said.

Additional findings include:

-Third-party supplier disconnects: A higher number of respondents, 38%, said they have no way of knowing when or whether there is something wrong with a third-party supplier’s cybersecurity, compared to 31% in the previous year problem arises.

-Third-party cyber attack risk being taken more seriously: Only 13% of companies said third-party cyber attack was not a priority, compared to last year, when 31% of companies said it was not a priority.

-Budget up: 91% say the budget for third-party cyber risk management is increasing in 2021.

The study was conducted by the independent research organization, Opinion Matters, and recorded the experiences of 1,200 IT executives in organizations with more than 1,000 employees across a range of industries in the US and other countries.

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This follows a study in September cybergrx, based on research conducted by Forrester Consulting, exposes third party risks.

that study too said That organizations recognize third party threats but fail to take adequate measures to mitigate them.

“Today’s organizations continually exchange confidential information with third parties,” Forrester said.

“This exposes both parties to significant cyber risk,” including data loss and ransomware, Forrester said, with 95% of respondents saying their organizations experienced a challenge in managing third-party risk.

And as enterprises turn to the cloud and software-as-a-service (SaaS), the percentage of data shared with third parties is expected to increase over the next five years.

Forrester said organizations that have experienced an incident share a higher percentage of their critical data (30%) than firms that have not been hit (22%). And firms that have experienced an incident are less likely to have the tools to mitigate third-party cyber risks.


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