A new joint study by BitSight and Center for Financial Professionals (CeFPro) looks at how organizations are dealing with third-party cyber risks. According to the report, virtually all organizations (97%) are very concerned about third-party risks, while almost 80% consider poor cybersecurity practices by a vendor to be a dealbreaker.
However, most firms (56%) do not adequately measure and report third-party risks, with only 22% of firms making use of security ratings services to continuously monitor these risks.
Read more: Current and emerging third-party cyber risk management approaches and challenges
