In today’s interconnected digital landscape, organizations are only as strong as their weakest link when it comes to cyber defenses. The alarming headlines of breaches originating from third and fourth parties serve as a constant reminder of this truth. Finance firms, in particular, understand the risks associated with these “close encounters.” Read on to learn more about your subsector!

But how can these risks be effectively addressed? In a collaborative effort, SecurityScorecard and the Cyentia Institute have analyzed extensive data to shed light on the underlying conditions exacerbating third and fourth-party risk. The report explores the key findings from their research and provides actionable insights to better manage cyber risk.

The study utilized data collected from over 230,000 organizations, focusing on the prevalence of security incidents among third and fourth-party vendors. The analysis delved into the extent of digital supply chains and the effects of exposure to gain valuable insights into risk management.

The reports provide a summary of these findings, highlighting the analysis of 7,347 public sector organizations, 1,509 healthcare organizations, and 12,520 finance organizations. The data was obtained using SecurityScorecard’s Automatic Vendor Detection capability, which offers a comprehensive cybersecurity risk score for fourth parties and the entire supply chain.

While third and fourth-party vendors are crucial components of organizations’ digital supply chains, it is important to recognize that your organization is not just one step away from becoming a headline.

However, this realization necessitates a proactive approach by finance firms to ensure the security of these relationships. Implementing rules and processes to maintain secure connection points with third parties is crucial. Staying updated on patches and updates, as well as establishing clear communication channels with third parties, can significantly contribute to mitigating cyber risk. By taking these measures, organizations can keep their cyber defenses strong and safeguard their sensitive data.

To gain a comprehensive understanding of how you can effectively mitigate cyber risk in your third and fourth-party relationships, we encourage you to read the full report. By leveraging the insights and recommendations provided, orgnaizations can proactively address the challenges posed by close encounters and bolster their overall cybersecurity posture.

In a world where cyber threats are ever-evolving, organizations must prioritize the security of their digital supply chains. By recognizing the significance of third and fourth-party relationships and taking proactive measures to maintain their security, firms can effectively mitigate cyber risk. The subsector reports offer valuable insights derived from comprehensive research, providing actionable recommendations for managing third and fourth-party risks. Stay ahead of the game and safeguard your organization’s cyber defenses by leveraging the insights presented in these reports. 

Download Close Encounters of the Third and Fourth Party Kind Full Report
Download Close Encounters in the Public Sector
Download Close Encounters in the Healthcare Sector
Download Close Encounters in the Financial Sector


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