by Sumera Riaz, Sr. Director Security Solutions, Bluewave Technology Group
The last seven months of 2024 historically have been unlike any other when it comes to cyber events and critical systems outages. We saw the healthcare industry shaken by ransomware attacks on Change Healthcare and Ascension Healthcare. The CDK ransomware rocked the Automotive industry in US and Canada. And a CrowdStrike faulty update that melted the world’s computer systems. Then an Azure DDOS attack just a few days ago.
Read more about 2024’s Biggest Data Breaches
The aftermath of these events has been devastating. Many companies will not survive these attacks and critical system outages. Those who have survived must take a hard look at their security posture when it comes to depending on a single provider for their critical business functionality.
The good news is that you don’t have to go it alone. Partner with a trusted advisor like Bluewave to bring an unbiased approach to your cyber strategy and strengthen your blind spots.
10 Key Takeaways to Help You Get Started
- Vendor Assessment: Conducting thorough assessments of third-party vendors before engaging with them. This should include evaluating their security policies, practices, and compliance with relevant regulations.
- Risk Classification: Classifying vendors based on the level of risk they pose to your organization. High-risk vendors may require more stringent controls.
- Due Diligence: Performing due diligence to understand the vendor’s security posture. This can involve reviewing their third-party audits, certifications (like ISO 27001, SOC 2), and security incident history.
- Contracts and SLAs: Ensuring that contracts with third-party vendors include strong security clauses, specifying data protection measures, incident response obligations, and compliance requirements.
- Data Governance: Clearly defining data ownership, access rights, and data handling practices to protect sensitive information shared with third parties.
- Continuous Monitoring: Implementing a continuous monitoring program to track the security practices and performance of third-party vendors over time. This may include regular audits and assessments.
- Incident Response Plan: Developing an incident response plan that outlines how to identify, report, and manage security incidents.
- Security Training and Awareness: Providing security training to employees who interact with third-party vendors to ensure they understand the risks and follow best practices.
- Termination Procedures: Establishing a clear process for securely terminating relationships with vendors, including data destruction and revocation of access rights.
- Third-Party Risk Program: Developing and maintaining a comprehensive third-party risk management program that aligns with your organization’s overall risk management framework.
Our Role as Your Advisor
Security is not a product you buy; it’s a practice that is developed and mastered in any organization. With so many moving parts and limited budgets, this becomes an impossible task for any IT and Security Team. As your security advisor, our role is critical.
We support you by:
- Helping you develop the right security strategy that aligns with your business goals
- Understanding the implications of a cyber event
- Advising you on ways to become cyber resilient
We bring with us decades of vendor intelligence as arsenal to help strengthen your defenses. In the spirit of resilience, let’s work together to ensure you are prepared for any future disruptions and prevent critical systems outages.
When you’re ready to get the right security solution for your organization, you’re ready for Bluewave. Let’s talk!
