Managing Third-Party Risks Through Threat Intelligence: A Comprehensive Guide

The interconnected nature of global supply chains has brought increased risks of data breaches and security incidents involving third-party vendors and partners. According to the Cyentia Institute, a staggering 98% of organizations have experienced at least one cybersecurity breach with a third-party supplier within the last two years.

To combat these risks, organizations are ramping up their investments in third-party risk management (TPRM) programs. In a recent survey by EY, it was found that 90% of respondents are actively seeking ways to enhance the effectiveness of their TPRM programs. Experts in a Dark Reading report suggest using threat intelligence to effectively manage third-party risks.

Rick Holland, VP CISO at ReliaQuest, highlights the challenges that Chief Information Security Officers (CISOs) face in managing third-party risk. Regulatory demands, increased remote work, and data privacy concerns are driving forces behind the surge in TPRM investments, with a significant portion being allocated to threat intelligence programs.

Threat intelligence can be sourced from various outlets such as open-source intelligence, commercial threat intelligence providers, industry-specific information sharing and analysis centers, and internal security data. By leveraging threat intelligence, organizations can gain comprehensive insights into the threat landscape and make informed decisions to manage third-party risks proactively.

To learn more about getting started with threat intelligence and how it can benefit organizations in managing risks associated with third parties, experts recommend downloading the report. By harnessing threat intelligence effectively, organizations can navigate the complex landscape of third-party risks and take proactive measures to safeguard their data and assets.