Third Party Risk as a Growing Problem

With organizations becoming increasingly digitally connected, a lack of visibility into their vendors’ security diligence has made exploiting these relationships a go-to tactic for cybercriminals.

Fifty-four percent of publicly reported breaches in the last two years have been due to third parties, vendors, or suppliers, representing one of the greatest cybersecurity risks. Additionally, 98% of organizations have at least one vendor that’s had a breach in the last two years. These statistics highlight the growing threat of insecure third-parties and the near universal scale of the problem.

So, what can organizations do to minimize risk stemming from their business ecosystems?

SecurityScorecard Ratings

SecurityScorecard Security Ratings offer businesses the ability to leverage data-driven ratings of third-party vendors and partners. In addition, SecurityScorecard can independently assess the security posture of business partners, so access controls can be secured and monitored before they are in the wrong hands. With a comprehensive view of third-party risks and insider threats, Security Ratings make it possible for organizations to secure themselves and maintain a zero-trust strategy for managing their external risks.

SecurityScorecard ratings have a practical application for organizations looking to manage their risk of experiencing a breach. Companies with an F Rating have a 7.7x higher likelihood of sustaining a breach compared to organizations with an A. Additionally, the SecurityScorecard platform provides practical steps to remediate issues and improve their security posture. Companies that are invited to the platform with low security grades (C, D, or F) typically exhibit on average a 7 to 8 point improvement within 3 months, while the average score of unengaged companies remains unchanged over the same period.

SecurityScorecard + ThreatQuotient Integration

The integration brings a comprehensive view of vulnerabilities into the ThreatQ Platform. In addition to a view of vulnerabilities on your own assets, ingest and correlate vulnerabilities affecting your third-parties that can contribute to a data breach in your own organization.

1. Identify Your Weakest Link. With SecurityScorecard’s third party data as input to the ThreatQuotient dashboard you can scan billions of signals across 12M+ organizations to help you identify hidden risks in your supply chain. You can see scores for critical third parties you want to monitor, factors contributing to that organization’s score, changes over time, and deep insights into the vulnerabilities and issues that are discovered. You can identify third-party that are more likely breach vectors and also see an overall supply chain risk score for your organization.
2. Real-Time Alerting. The integration makes it easy to leverage SecurityScorecard real-time event information feed with the alerting features within the ThreatQ Platform. Enable conditional rules for alerting based on ratings and event information when critical vulnerabilities appear with your supply chain vendors. When an alert comes in, the ThreatQ dashboard provides vulnerability prioritization guidances, so you know instantly if you have time for a cup of coffee or if you need to act right away.

Whether you’re facing constant risks from vendor security issues or looking strategically at how to strengthen your organization’s security posture, our integration helps give you peace of mind and expanded visibility into your third party risk posture. Read the ThreatQuotient and SecurityScorecard partner brief and register for our upcoming joint webinar – details coming soon…