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How to Prevent Third-Party Vendor Data Breaches

Reciprocity

This type of breach occurs when a vendor (or some other business partner) holding your company’s data suffers a breach, and your data is exposed. According to the Verizon 2022 Data Breach Investigations Report, 62 percent of all data breaches happen via third-party vendors.

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The Playbook for Resilient Operations in Financial Services – March 2022 and Beyond

Fusion Risk Management

After all, “ you are only as strong as your weakest link.”. Large suppliers pose a particular hazard, hastening the development of regulations such as the EU’s Digital Operational Resilience Act (DORA). Not a one-trick pony” and “not a one-size-fits-all” were phrases articulated throughout the discussion.