Small can be ugly when it comes to third-party cybersecurity

Digital transformation initiatives often involve closer relationships with other businesses, but these can expose a company to additional risk if the other party's security isn't up to scratch. New research from CyberGRX, based on data collected from the third parties on its exchange, finds that company size correlates with the maturity of cybersecurity programs, more specifically, as companies get smaller, they have fewer controls in place and less mature programs. A recent Ponemon report says that 82 percent of organizations have experienced one or more data breaches caused by a third party, costing an average of $7.5 million to remediate.… [Continue Reading]