Conclusion:

This month, discussions regarding security threats to third party suppliers have been prominent. With malicious actors targeting new technologies and work methods, it has become critical for customers to assess and conduct ongoing reviews of third party supplier security prior to establishing partnerships, particularly critical systems providers. A rigorous security strategy and ongoing maintenance is required to safeguard customer data and internal systems. Third party suppliers require the ability to deal with irregular activities, as well as technical controls and policies that correlate with their customers. Supplier vulnerabilities can result in operations and compliance risks, necessitating professionals to develop, implement and audit third party risk management strategies and processes. It also requires security professionals to conduct ongoing audits, establish plans for third party incident responses, and the implementation of restricted access mechanisms. Customers can strengthen their resistance and attack containment mechanisms with professionals to help detect, analyse, contain, and respond to security threats.

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