Once you start working with a third-party vendor, they may gain authorized access to your customer or employee data or incorporate their service into your online presence. Many of these vendors or contractors have a smaller information security team, and they cannot guarantee the same level of security as their enterprise customers. This limited security posture makes them a prime target for malicious actors.
Additionally, while your contract may be with this third party, they use their own vendors, such as communication platforms or data storage, that create additional risk for your organization. Therefore, third-party security measures need to go beyond your direct vendors on to the vendors’ vendors.
Types Of Third-Party Security Breaches
Cybersecurity becomes more sophisticated every day, and so do cybercriminals. They often target third-, fourth-, or nth-party vendors to get the highest return on investment.
Magecart: When an organization uses a third-party payment processor, hackers breach and infect the processor to seal credit card data.
Public Cloud Infrastructures: Many third-party security teams overlook the data buckets used by their vendors. If these cloud storage services are left unprotected, they can reveal Personally Identifiable Information for millions of users.
Social Engineering: When a vendor gains access to your organization’s system, now their employees can become the targets of social engineering campaigns. Cybercriminals perform highly researched attacks, create spoof emails with close resemblance to trustworthy addresses, and request credentials or essential documents.