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2023 was marked by a rise in supply chain attacks. Ensure robust protection across your software supply chain with CloudSEK SVigil.
Schedule a DemoIn today’s interconnected digital world, the security of an organization's data and systems is not solely determined by its own cybersecurity measures. The rise of third-party cyber risk has added a layer of complexity to the landscape of information security: Vendors, suppliers, and partners have also become prime targets for cybercriminals. We've seen this in high-profile incidents like the SolarWinds attack in 2020, the Log4j vulnerability in December 2021, and the more recent MOVEit attack in 2023, which have made big headlines and highlighted the importance of securing these trusted relationships.
Third-party cyber risk, often referred to as vendor-related cyber risk, is the potential threat to an organization's data, systems, and network security that arises from interactions with external entities. These external entities can include vendors, suppliers, service providers, contractors, and partners with whom an organization shares information, resources, or access to its networks.
Understanding the specific types of third-party cyber risks is crucial in developing a comprehensive approach to managing these threats. These risks can take various forms, and recognizing them is the first step in effective risk mitigation. In this section, we'll explore common risks associated with external entities and provide examples of real-world third-party cyber incidents.
Example: In 2013, Target, the retail giant, suffered a massive data breach when attackers exploited a vulnerability in its HVAC vendor's systems. This incident exposed over 40 million customer credit card details and resulted in significant financial and reputational damage.
Example: In 2021, attackers tampered with the Kaseya VSA software supply chain, inserting malicious code into the VSA software updates. This nefarious code enabled the attackers to encrypt the data of Kaseya's customers and demand a ransom payment.
Example: The SolarWinds breach of 2020 is a prime illustration. Cybercriminals infiltrated SolarWinds' software update servers to distribute malware to its customers, including numerous government agencies and major corporations. This supply chain attack led to extensive data breaches and espionage activities.
Example: Uber was fined for its third-party data breach reporting failures in the 2016 incident where hackers stole personal information from 57 million users and drivers. Uber's decision to pay the hackers to keep the breach quiet and not report it violated several data breach notification laws.
When it comes to managing third-party cyber risks, thorough vendor assessment and due diligence are essential components of a robust cybersecurity strategy. Here, we'll delve into best practices for evaluating the cybersecurity readiness of external partners, including conducting risk assessments and security audits.
Effectively managing third-party cyber risks often requires leveraging specialized tools and solutions. In this section, we'll explore the software and services that aid organizations in this process, including the implementation of technology for automated risk assessment.
CloudSEK SVigil assesses the risks and vulnerabilities introduced by third-party suppliers and vendors that may impact the security of an organization's products or services. Vendor Risk Monitoring is crucial due to the expanded attack surface, third-party system dependencies, supply chain risks, and the need for timely threat detection and robust incident response preparedness.
CloudSEK’s SVigil platform has idenified and helped address some of these common issues across multiple vendors, thus enhancing cybersecurity measures:
And, the SVigil platform also lets you explore 100+ integrations that make your day-to-day workflow more efficient and familiar. Plus, our extensive developer tools.
Schedule a customized demo of the CloudSEK platform by clicking here.
In today’s hyper-connected financial ecosystem, a single compromised vendor can jeopardize the security of an entire banking infrastructure. CloudSEK’s SVigil platform uncovered exposed credentials belonging to a key third-party communication provider, putting millions in operational credit, sensitive customer data, and critical cloud infrastructure at risk. This real-time discovery not only thwarted a large-scale breach but also highlighted glaring gaps in cloud access controls, MFA implementation, and vendor security hygiene. Dive into this case study to understand how SVigil turned a potential cyber catastrophe into a story of resilience and rapid response.
Over recent months, the United States has faced a surge in cyber attacks, with ransomware incidents rising sharply from June to October 2024. Prominent groups, including Play, RansomHub, Lockbit, Qilin, and Meow, have targeted sectors such as Business Services, Manufacturing, IT, and Healthcare, compromising over 800 organizations. Major attacks included a breach of the City of Columbus by Rhysida ransomware and data leaks impacting Virginia’s Department of Elections and Healthcare.gov. Additionally, China’s "Salt Typhoon" espionage campaign is aggressively targeting U.S. ISPs, further complicating the cyber threat landscape. Hacktivist groups advocating pro-Russian and pro-Palestinian positions have also increased their attacks, affecting government entities and critical infrastructure. This report highlights the need for enhanced security protocols, regular audits, and public awareness initiatives to mitigate the growing cyber risks. Key recommendations include implementing multi-factor authentication, frequent employee training, and advanced threat monitoring to safeguard the nation's critical infrastructure and public trust.
Supply Chain Case Study: Leaked credentials of an HRMS Provider’s Employee Expose Critical Employee Information and PII for a Bank and Multiple Subsidiaries; Allows Account Takeover
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CloudSEK Platform is a no-code platform that powers our products with predictive threat analytic capabilities.
Digital Risk Protection platform which gives Initial Attack Vector Protection for employees and customers.
Software and Supply chain Monitoring providing Initial Attack Vector Protection for Software Supply Chain risks.
Creates a blueprint of an organization's external attack surface including the core infrastructure and the software components.
Instant Security Score for any Android Mobile App on your phone. Search for any app to get an instant risk score.
12
min read
Uncover the complexities of third-party cyber risks and learn how to fortify your organization's digital defenses against these evolving threats.
In today’s interconnected digital world, the security of an organization's data and systems is not solely determined by its own cybersecurity measures. The rise of third-party cyber risk has added a layer of complexity to the landscape of information security: Vendors, suppliers, and partners have also become prime targets for cybercriminals. We've seen this in high-profile incidents like the SolarWinds attack in 2020, the Log4j vulnerability in December 2021, and the more recent MOVEit attack in 2023, which have made big headlines and highlighted the importance of securing these trusted relationships.
Third-party cyber risk, often referred to as vendor-related cyber risk, is the potential threat to an organization's data, systems, and network security that arises from interactions with external entities. These external entities can include vendors, suppliers, service providers, contractors, and partners with whom an organization shares information, resources, or access to its networks.
Understanding the specific types of third-party cyber risks is crucial in developing a comprehensive approach to managing these threats. These risks can take various forms, and recognizing them is the first step in effective risk mitigation. In this section, we'll explore common risks associated with external entities and provide examples of real-world third-party cyber incidents.
Example: In 2013, Target, the retail giant, suffered a massive data breach when attackers exploited a vulnerability in its HVAC vendor's systems. This incident exposed over 40 million customer credit card details and resulted in significant financial and reputational damage.
Example: In 2021, attackers tampered with the Kaseya VSA software supply chain, inserting malicious code into the VSA software updates. This nefarious code enabled the attackers to encrypt the data of Kaseya's customers and demand a ransom payment.
Example: The SolarWinds breach of 2020 is a prime illustration. Cybercriminals infiltrated SolarWinds' software update servers to distribute malware to its customers, including numerous government agencies and major corporations. This supply chain attack led to extensive data breaches and espionage activities.
Example: Uber was fined for its third-party data breach reporting failures in the 2016 incident where hackers stole personal information from 57 million users and drivers. Uber's decision to pay the hackers to keep the breach quiet and not report it violated several data breach notification laws.
When it comes to managing third-party cyber risks, thorough vendor assessment and due diligence are essential components of a robust cybersecurity strategy. Here, we'll delve into best practices for evaluating the cybersecurity readiness of external partners, including conducting risk assessments and security audits.
Effectively managing third-party cyber risks often requires leveraging specialized tools and solutions. In this section, we'll explore the software and services that aid organizations in this process, including the implementation of technology for automated risk assessment.
CloudSEK SVigil assesses the risks and vulnerabilities introduced by third-party suppliers and vendors that may impact the security of an organization's products or services. Vendor Risk Monitoring is crucial due to the expanded attack surface, third-party system dependencies, supply chain risks, and the need for timely threat detection and robust incident response preparedness.
CloudSEK’s SVigil platform has idenified and helped address some of these common issues across multiple vendors, thus enhancing cybersecurity measures:
And, the SVigil platform also lets you explore 100+ integrations that make your day-to-day workflow more efficient and familiar. Plus, our extensive developer tools.
Schedule a customized demo of the CloudSEK platform by clicking here.