Businesses are often kept in the dark about third-party cyber breaches: what risk does this pose?

The growing risk of cyber breaches impacting third-party vendors and their associated organisations has been underscored by new research. Professor Alex Frino found most firms are tied to at least one third-party that has suffered a cyber breach. Reportedly, 98.3% of companies have a relationship with a third-party that has been breached within two years, while IBM found nearly one-fifth of breaches were caused by supply chain compromises. Such attacks have serious financial and reputational consequences for companies who rely on external vendors.