Third-Party Risk : a Turbulent Outlook Survey Report 2022 : the Intersection of Third-Party and Cyber Risks
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<subfield code="a">Third-party relationships continue to expand exponentially as companies seek outsourced services and software to perform optimally and to backfill talent and supply shortages during the ongoing pandemic. That expansion, however, is also broadening attack surfaces as threat actors target weaker vendors with strong market penetration to quietly surveil and paralyze systems. It can be months, even years, before the breach is detected - if at all. In the case of ransomware, companies can be shut down and extorted. This elevated risk has not been lost on IT executives, decision-makers, and influencers, who appear to understand the need to better manage third-party cyber risks, but some aren't yet sure how best to go about it. Since the December 2020 discovery of suspicious code in a routine update to 18,000 SolarWinds customers, other victimized vendors and contractors have led to significant security events for their customers. Sometimes it's malicious code quietly inserted into a software update; other times, it's malware unleashed through phishing or contaminated external drives.</subfield>
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