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As was recently illustrated by the Microsoft hack, third-party and supply chain risk is a threat that every business is vulnerable to in our interconnected world. But not all of your vendors, service providers, or partners take information security seriously, and that creates risk for your business.
Over90% of US businessesexperienced a cybersecurity incident like a data breach in 2020 because of a third-party or supply chain risk. These businesses didn’t make a cybersecurity misstep themselves – another company created vulnerabilities for them. Often these are vulnerabilities that you won’t even know about until it’s too late.
Third-party and supply chain risk will continue to be a growing problem in 2021 and beyond. The data that cybercriminals glean from data breaches inevitably makes its way into dark web markets and data dumps, providing ample fuel for future cyberattacks. Data breaches exposed36 billion recordsin the first half of 2020 alone, feeding plenty of cybercrime.
Are you positioned to gain the kind of intelligence that helps you get a clear picture of how stolen data may put your business at risk? If you’ve gotDark Web ID, you are. Dark Web ID sends up a red flag to warn you when your company’s credentials make an appearance on the dark web, enabling your security team to take care of that vulnerability before cybercriminals can exploit it.
This is just one increasing risk factor in 2020. As the fallout from the global pandemic settles, more risk from dark web sources will become a problem for businesses. Even cybercriminals have to work a little harder these days to make ends meet. Don’t let them snatch your piece of the pie – add dark web monitoring today to stay in the know about your company’s risk.
Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas
877.860.5831
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Study up on how third-party and supply chain risk has evolved through the pandemic to have an outsized impact on cybersecurity in 2021. In our new eBookBreaking Up with Third Party and Supply Chain Risk, we’ll take you on a journey into the heart of this threat and how it can impact every business – plus we’ll give you strategies and solutions that can be put into place quickly and affordable to secure systems and data.
Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas
877.860.5831
As another huge bomb hits the cybersecurity world in the form of the recent Microsoft Exchange hack, it’s a good time to take a look at third-party and supply chain risk to see how it can impact businesses and how it can be mitigated. Over90% of US businessesexperienced a cybersecurity incident like a data breach in 2020 because of a third party or supply chain fault.
It’s important to prepare for this risk because it’s less of a possibility and more of an eventuality in today’s ever more connected world. Those connections are one of the reasons why it has ramped up so steadily. As more and more information about people and businesses accumulates in dark web markets and data dumps, that provides fuel for cyberattacks that perpetuate the cycle, feeding the market.More than 60%of the information available now on the Dark Web could damage businesses, and data breaches exposed36 billion recordsin just the first half of 2020.
More than 60% of data breaches are a result of exposure through third party or supply chain risk. Unfortunately, any business partner, supplier, or service provider with sloppy cybersecurity practices can put an innocent business at risk by doing things that make it easy for data to walk out the door, like the17% of companiesthat have all of their sensitive files accessible to all of their employees – or the41% of US companies that allow employees unrestricted access to sensitive data.
Also included in that risk calculus, the siren song of making money on the dark web in a challenging economy has increased the possibility of data being snatched for nefarious purposes. An estimated30% of data breaches involve internal actors with ill intent, including employees moonlighting by selling data or access on the Dark Web.
2020 was not a friendly year for businesses when it came to cybersecurity, especially in the supply chain. About80% of firms responding to a recent survey said that they’d experienced an increase in cyberattacks in 2020. Supply chain cybersecurity risk warnings increased right along with surging cybercrime, up by 80% in Q2 2020 alone.Two in fiveSMBs were impacted by a cyberattack in 2020.
Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas
877.860.5831
Third-party and supply chain risk is growing more dangerous for every business as cybercriminals maximize on past breaches to create new ones. Find great ways to reduce third-party and supply chain risk in our new eBook “Breaking Up with Third Party and Supply Chain Risk”. You’ll discover:
Examples that demonstrate third-party and supply chain data risks to businesses
A winning formula for solutions to secure companies
Statistics about how and why threats are heating up in the third-party and supply chain risk landscape
Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas
877.860.5831
Molson Coors told regulators that they’ve experienced a serious cybersecurity incident. The hack has taken its systems offline, delaying and disrupting parts of Molson Coors’ operations, including its production and shipments.
Individual Impact:No sensitive personal or financial information was announced as impacted in this incident, but the investigation is ongoing.
Customers Impacted:Unknown
How it Could Affect You:Hacking that disrupts production is a big problem, and reassessing cybersecurity training is a good idea after a serious incident like this.
Utah medical testing company Premier Diagnostics has exposed the sensitive information of more than 50,000 customers by storing personally-identifying information on an unsecured server. The breach at Premier Diagnostics was discovered by researchers and contains sensitive customer data including scans of passports, health insurance ID cards, and driver’s licenses. Patients affected are from Utah, Nevada and Colorado.
Individual Risk:1.612 = Severe
Patients should be aware of this information being used for identity theft and spear phishing.
Customers Impacted:50,000
How it Could Affect You:Sensitive PII requires stong protection, esopecially in the medical sector, because failure to keep it safe incurs huge fines.
University of Texas at El Paso: Institution of Higher Learning
Risk to Business:2.212 = Severe
The computer network of the University of Texas at El Paso had to be shut down as technicians discovered a significant cyberattack in progress. Email and the server hosting the university’s website were affected by the incident, forcing faculty and students to communicate via Blackboard. The cyber-attack has also led to the closure of the university’s walk-up COVID-19 testing sites.
Individual Impact:No sensitive personal or financial information was announced as impacted in this incident, but the investigation is ongoing.
Customers Impacted:Unknown
How it Could Affect You:Hackers can disrupt large parts of an operation fast, leaving businesses scrambling to get back to work and causing lost revenue.
A ransomware incident at an optometrist located in Sierra Vista, Arizona, has affected up to 100,000 patients. In a recent breach notice, Cochise Eye and Laser informed regulators that the practice has been hit by ransomware, encrypting the office’s patient scheduling and billing software.
Individual Risk:1.603 = Severe
Patient data stored in the billing software included names, dates of birth, addresses, phone numbers, and in some cases Social Security numbers. There is no evidence that data was exfiltrated, but customers of this practice sjould be ready for potential identity thefy or phishing.
Customers Impacted:Unknown
How it Could Affect You:This is a tremendous problem for businesses of every size, and even without confirmation that data was stolen the practice will be dinged with a substantial fine.
Canada Revenue Agency(CRA): National Taxation Authority
Risk to Business:1.102 = Extreme
The CRA has locked down 800,000 online taxpayer accounts following an internal investigation that found user logins and other sensitive information may have been hacked. The agency noted that it could take until March 22 for the issues to be resolved.
Individual Impact:No sensitive personal or financial information was announced as compromised in this incident, but the investigation is ongoing.
Customers Impacted:800,000
How it Could Affect You:Reports say that this hack was likely discovered by dark web monitoring, preventing a potential cybersecurity disaster.
English Premier League football club West Ham United appears to have accidentally leaked personal data of supporters on its official website. Cybersecurity experts believe it is likely the problem was caused by an internal error.
Individual Risk:2.802 = Moderate
Details of fan account profiles including full names, dates of birth, telephone numbers, address and email address were displayed when supporters attempted to log into the club’s ticketing website.
Customers Impacted:Unknown
How it Could Affect You:Human error is the top cause of cybersecurity incidents. Improve security awareness training for everyone in the organization to reduce it.
Scotland – University of the Highland and Islands (UHI)
University of the Highland and Islands (UHI): Institution of Higher Learning
Risk to Business:1.603 = Severe
The University of the Highlands and Islands (UHI) in Scotland has been hit with a suspected ransomware attack that has shut down its campuses. All 13 locations across were impacted as well as its Brightspace virtual learning environment.
Individual Impact:No sensitive personal or financial information was announced as compromised in this incident, but the investigation is ongoing.
Customers Impacted:Unknown
How it Could Affect You:Ransomware is almost always part of a phishing attack. Brush up on the latest phishing lures to spot and stop phishing in our eBookPhish Files.GET THIS BOOK>>
State Public Employment Service (SEPE): Government Agency
Risk to Business:2.020= Severe
The cyberattack on Spain’s State Public Employment Service (SEPE) affected the agency’s offices around the country, forcing employees to use pen and paper to take appointments. The suspected ransomware attack disrupted operations at the authortity for unemployment assistance snarling progress for for hundreds of thousands of unemployed Spainiards. The incident is under investigation.
Individual Impact:No sensitive personal or financial information was declared as compromised immediately but the investigation is ongoing and more details may emerge.
Customers Impacted:Unknown
How it Could Affect You:Ransomware doesn’t discriminate, and even a narrow impact can have big consequences for operations, causing delays and dissatisfaction for clients.
1 – 1.5 = Extreme Risk
1.51 – 2.49 = Severe Risk
2.5 – 3 = Moderate Risk
Risk scores for The Week in Breach are calculated using a formula that considers a wide range of factors related to the assessed breach.
Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas
877.860.5831