Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

5G refers to the 5th generation of mobile phone wireless network capability. It has captured attention and excitement because of its ability to connect people, objects, and devices more frequently and seamlessly than ever, along with its higher network speeds, extremely low latency, and more reliable network performance. It is relatively early in its evolution, but forecasts predict there will be more than 3.5 billion 5G connections worldwide by 2025.

Assessing cyber risk for potential vendors is one of the most important aspects of managing third-party risk for any organization. The vendor risk assessment process helps businesses decide which partners or service providers to work with and, more importantly, who to trust with their most sensitive data.

Vendor criticality is the level of risk that vendors are categorized into during the risk assessment phase. Determining vendor criticality is an essential part of the third-party risk management (TPRM) program to help organizations better prioritize their risk remediation goals. As part of the vendor risk assessment and vendor due diligence process, understanding the risk criticality levels of each vendor plays a huge role in preventing data breaches from occurring.

Let's be honest – nobody likes security questionnaires. To vendors, they're irritating workflow interruptions, always seeming to arrive at the most inconvenient times. To businesses, they mark the first stage of a long, drawn-out process where vendors need to be continuously pestered to complete them. In this post, we outline three proven strategies for streamlining the security questionnaire process to eliminate stress for both the businesses that send them and the vendors receiving them.

Vendor security questionnaires accurately evaluate a third-party supplier’s attack surface, but only if they’re utilized intelligently. The quality, and therefore, accuracy, of questionnaires rapidly deteriorates when they become excessively lengthy, one-size-fits-all templates bloated with jargon. In this post, we suggest x actions for improving the accuracy of your security questionnaires and the overall efficiency of your security questionnaire process.

Fourth-party risk management is the process of identifying, assessing, and mitigating the cybersecurity risks posed by the vendors of your third-party vendors (your vendor’s vendors). With digital transformation compressing the boundaries between IT ecosystems, any of your vendors could be transformed from trusted suppliers to critical data breach attack vectors if they’re compromised.

‍Insider threats are one of the biggest internal cyber threats to organizations because they are often detected too late, and the responsible individual has access to sensitive information that gets released or exposed. Insider threats can pose a significant concern for organizations of all sizes and industries because they can result in severe financial and reputational damage and even legal penalties.

The Office of the Comptroller of the Currency (OCC) has outlined its third-party risk management requirements for United States national banks and federal savings associations in the OCC Bulletin 2013-29. These risk management standards don't only apply to third-party vendor relationships; the OCC expects all banks to follow best third-party risk management practices, whether activities occur internally or through service providers.

Vendor security ratings cannot be adjusted without modifying the criteria for evaluating a vendor’s security posture. Since the ability to make unmitigated adjustments violates the objectivity of security posture measurements, this functionality usually isn’t possible on security rating solutions. However, a workaround is to prevent certain discovered risks from influencing the calculation of a vendor’s security ratings.

A healthy financial sector is essential for economic stability and security. Cybersecurity frameworks can help financial organizations meet the requirements of financial regulations and ensure that the financial system operates safely and securely while protecting the rights and privacy of consumers.