3 security concerns when working with third-party vendors

As more lenders turn to third parties, regulators are emphasizing the importance to gauge for the potential risks involved. "You have to assess not only the vendor; you may also have to assess.

Third-Party Management: If your company is using social media, it must be aware of the challenges it faces to protect its brand identity in a social media context. Risk may arise in many ways, such as through comments made by social media users, spoofs of company communications, or activities in which fraudsters masquerade as the company.

The complex extended web of relationships with third-party suppliers and vendors is the lifeblood of many companies today. Their risks are also your risks and require appropriate management on your end. Taking the steps above to improve your third-party risk management can provide peace of mind and continued success for the long term.

Understanding the risks that third-party vendors bring to your network and how to best manage security solutions unfortunately isn’t a one-size-fits-all option. Business relationship, regulatory forces, and specific levels of access and types of assets drive these risk discussions, according to Will Durkee, director of Security Solutions for.

Here are three important facts about third-party security risks that you probably didn’t know: 1. Your business is on the hook for third-party data breaches. Despite whatever policies you may have laid out, your business is still on the hook for third-party vendors in the event of a data breach.

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Another display of vendor’s power is Oracle’s “all or nothing” cloud offer where it will neither certify nor change licensing metrics for customers using Oracle Database on competitor’s clouds.

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Why Your Company Needs Third-Party vendor management services. oct 25, 2018. So your vendors have been assessed and some security issues have arisen.. As part of third-party vendor management, security companies can help with creating guidelines that address both security and regulatory.

Security shortcomings of third-party vendors are a cybercriminal’s dream.. it’s also advisable to provide dedicated systems for the vendor to work from, and to prevent vendors from connecting.

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Securing third-party vendors is particularly difficult because of two specific factors: one intrinsic to the modern web, the other driven by its rapid evolution. The Third-Party Security Challenge.