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10 Of The Top Mobile Apps To Cybersecurity Risk
Cybersecurity Risk Management - How to Manage Third-Party Risks

Every day we learn about data breaches which have exposed the private data of hundreds of thousands if not millions of people. These data breaches are typically caused by third-party partners, such as a vendor who experiences a system failure.

The process of assessing cyber risk begins with accurate information about your threat landscape. This allows you to prioritize which threats require immediate attention.

State-sponsored attacks

Cyberattacks by nation-states can cause more damage than any other attack. Attackers from nations are usually well-equipped and have sophisticated hacking techniques, which makes it difficult to recognize them or defend against them. They can take sensitive information and disrupt business processes. In addition, they are able to cause more harm by targeting the company's supply chain and harming third-party suppliers.

The cost of a national-state attack is estimated at $1.6 million. Nine out of 10 companies believe that they've been a victim of a nation-state attack. And with empyrean group growing in popularity among nations-state threat actors, it's more important than ever before for businesses to implement solid cybersecurity practices in place.

Cyberattacks against states can take a variety of forms, ranging from stealing intellectual property to ransomware or a Distributed Denial of Service (DDoS) attack. They are carried out by cybercriminal organizations, government agencies that are aligned or contracted by states, freelancers who are hired to conduct a nationalist-themed operation or even hackers who target the general population.

The advent of Stuxnet changed the rules of cyberattacks as it allowed states to arm themselves with malware and use it against their enemies. Since the time, cyberattacks have been used by states to achieve economic, military and political goals.

In recent years there has been a marked increase in the number of government-sponsored attacks and the sophistication of these attacks. Sandworm, a group sponsored by the Russian government, has targeted both consumers and businesses by using DDoS attacks. This is distinct from traditional crime syndicates that are motivated by the desire to make money. They are more likely to target consumers and businesses.

Therefore the response to threats from a state-sponsored actor requires a significant coordination with several government agencies. This is a big difference from "your grandfather's cyberattack," where a business might submit an Internet Crime Complaint Center (IC3) Report to the FBI, but would not necessarily require significant coordination with the FBI as part of its incident response process. In addition to the increased level of coordination responding to a nation state attack also requires coordination with foreign governments which can be demanding and time-consuming.

Smart Devices

As more devices connect to the Internet cyber-attacks are becoming more common. This increase in attack surfaces can create security risks for both companies and consumers. For instance, hackers could exploit smart devices to steal data or even compromise networks. This is especially true when these devices aren't properly secured and protected.

Smart devices are particularly appealing to hackers as they can be used to obtain an abundance of information about individuals or businesses. Voice-controlled assistants such as Alexa and Google Home, for example, can learn a great amount about their users through the commands they receive. They can also gather information about users' home layouts and other personal information. Furthermore they are often used as an interface to other kinds of IoT devices, such as smart lights, security cameras, and refrigerators.

If hackers gain access to these devices, they can cause serious harm to individuals and businesses. They could employ these devices to commit diverse range of crimes such as identity theft, fraud and Denial-of-Service attacks (DoS). Additionally, they can hack into vehicles to alter GPS locations or disable safety features. They may even cause physical injury to passengers and drivers.

While it's not possible to stop people from connecting their devices to the internet, there are ways to limit the damage they cause. For example users can change the default passwords that are used on their devices to stop hackers from gaining access to them and also enable two-factor authentication. It is also crucial to upgrade the firmware on routers and IoT devices regularly. Local storage, instead of the cloud, can reduce the risk of an attacker when it comes to transferring and the storage of data between or on these devices.

It is essential to understand the effects of these digital harms on our lives, as well as the best methods to limit the impact. Particularly, studies should focus on the development of technology solutions that can help reduce the negative effects caused by IoT devices. They should also look into other potential harms like cyberstalking, or the exacerbated power imbalances among household members.

Human Error

Human error is among the most frequent factors that can lead to cyberattacks. This could range from downloading malware to leaving an organisation's network vulnerable to attack. A lot of these issues can be avoided by establishing and enforcing security measures. For instance, an employee might click on a malicious link in a phishing campaign or a storage configuration error could expose sensitive data.

Furthermore, an employee could disable a security feature on their system without noticing that they're doing so. This is a common error that exposes software to attack by malware or ransomware. IBM states that human error is the primary cause of security breaches. It's crucial to understand the kinds of mistakes that can cause an attack on your computer and take the necessary steps to mitigate them.

Cyberattacks can be committed for many reasons, including hacking, financial fraud or to steal personal data or disrupt the vital infrastructure or vital services of the government or an organization. State-sponsored actors, vendors, or hacker groups are typically the perpetrators.

The threat landscape is always evolving and complicated. Companies must constantly examine their risk profiles and revisit security strategies to keep up with the latest threats. The good news is advanced technologies can help reduce an organization's overall risk of a hacker attack and also improve its security capabilities.

It's important to remember that no technology can shield an organization from every possible threat. It is therefore essential to develop a comprehensive cyber-security strategy that takes into consideration the different layers of risk in an organisation's ecosystem. It's also important to conduct regular risk assessments instead of relying on conventional point-in time assessments that are often inaccurate or miss the mark. A comprehensive assessment of an organisation's security risks will allow for more efficient mitigation of these risks and will help ensure that the company is in compliance with industry standards. This will ultimately help to prevent costly data breaches and other security incidents from negatively impacting a business's reputation, operations and finances. A successful cybersecurity plan will include the following elements:

Third-Party Vendors

Third-party vendors are companies that are not part of the organization but provide services, software, and/or products. These vendors have access to sensitive data like financials, client information or network resources. If these businesses aren't secure, their vulnerability becomes a gateway into the original business' system. This is the reason that risk management teams for cybersecurity are willing to go to the extremes to ensure that risks from third parties are screened and controlled.

The risk is growing as cloud computing and remote working become more common. In fact, a recent survey by security analytics firm BlueVoyant found that 97% of the companies they surveyed were adversely affected by supply chain weaknesses. A disruption to a vendor even if it just affects a small part of the supply chain can have a domino-effect that can affect the entire business.


Many organizations have created an approach to accept new suppliers from third parties and require that they sign service level agreements that define the standards they will be accountable to in their relationship with the company. In addition, a good risk assessment should include documenting how the vendor is tested for weaknesses, then following up on results, and remediating them in a timely manner.

Another method to safeguard your business against third-party risk is by using the privileged access management software that requires two-factor authentication in order to gain access into the system. This will prevent attackers from getting access to your network by stealing credentials of employees.

Finally, ensure that your third-party vendors have the latest versions of their software. This will ensure that they don't have accidental flaws in their source code. These vulnerabilities can go undetected, and be used to launch more high-profile attacks.

Third-party risk is an ongoing threat to any business. The strategies mentioned above can help mitigate these threats. However, the most effective way for you to minimize your risk to third parties is through constantly monitoring. This is the only way to be aware of the state of your third-party's cybersecurity and to quickly identify any potential risks that could arise.

Read More: https://www.lilli.icu/7-small-changes-that-will-make-a-big-difference-in-your-cyber-security-companies/