Tag Archive: 3rd party risk management

5 Steps to Manage Third-Party Security Risks

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Published 03/31/2016

5 Steps to Manage Third-Party Security Risks   This post was originally published on KCNext. Networks were once the fences that protected businesses from external threats – a barrier only employees could access, fully controlled by the company. The rise of telecommuting, virtual private networks and BYOD initiatives has changed it all. Businesses are increasingly reliant on third-party applications and business partners, from cloud storage providers to payroll systems, that have access to sensitive information. Many third parties use other third parties themselves, leaving companies with little control over  their information security protocols. Bad outsourcing decisions are responsible for 63 percent of data breaches, and 53 percent of organizations who are victims of a data breach are vulnerable to another attack because…