Cyber risks, especially those emanating from third and fourth parties, are escalating. Successful breaches via the supply chain increased from 44% in 2020 to 61% in 2021, according to Accenture.
Yet gaining a clear picture of these risks is much more complex given interwoven ecosystem dependencies, data sitting in silos, and many organizations’ lack of a security mindset.
“We are so much more digitally dependent today,” said Mike Wilkes, SecurityScorecard advisor. “Even if you have built a fault-tolerant platform and your third parties have built strong cybersecurity programs, maybe one of those third parties is relying on a vendor that hasn’t taken the same precautions. All it takes is one major security event to demonstrate just how fragile our modern, digitally dependent society is.”