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Mitigate Third Party Breaches with Vendor Risk Management

Mitigate Third Party Breaches with Vendor Risk Management

As we enter into the end of the first quarter of 2020, breaches as a result of third parties are expected to be a primary contributor. Reflecting upon 2019, some of the worst breaches experienced were the U.S. Customs and Border Protection, the FBI, Facebook, and Focus Brands1 to name a few.

A recent analysis by Risk Based Security, uncovered an increase in incidents involving companies handling sensitive data for business partners and other clients. The total number of such third-party breaches hit 368 in 2019, up from 328 in 2018 and 273 in 2017 — a 35% increase in two years2.

Each breach exposed an average of 13 million records, Risk Based Security found.

In addition, the number of records exposed in these breaches skyrocketed 273% last year, from just over 1.7 billion in 2018 to 4.8 billion in 2019.  On average, some 13 million records were exposed in each third-party breach in 2019, making it easily the worst year ever on record, according to the analysis. Risk Based Security counted a total of 7,098 data breaches in 2019 — a relatively modest increase of 1% over 2018’s 7,035 publicly disclosed data breaches.

The security landscape is just as challenging as ever, says Inga Goddijn, Executive Vice President at Risk Based Security.

Though the overall number of breaches increased only slightly year-over-year, the number of records exposed in 2019 was some 284% greater than in 2018. The largest breach were due to a configuration error.

Web breaches caused by misconfigured services and failure to follow basic hardening practices resulted in a far greater number of exposed records.

Due to this overwhelming development, XBAND and SecurityStudio are hosting a live executive event Thursday March 19th  with the Guest Speaker:

Evan Francen, CEO & Founder – SecurityStudio

Register today!

Vendors = Risk, Manage it.

 Research Credit:

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