Third-party threats are a growing concern for organizations in all industries. The greater digitization of companies’ infrastructure and collaboration between third-party partners/vendors/etc increasingly puts organizations at risk. However, security teams can manage third-party threats by considering and protecting their whole supply chain as part of their external attack surface.
How Flare Addresses Third-Party Threats
What is Flare’s approach to monitoring third-party threats?
The Flare Threat Exposure Management (TEM) solution contributes to viewing an organization’s cybersecurity posture holistically. With Supply Chain Ransomware Exposure Monitoring, security teams can gain the full picture of risks across third-parties for proactive security.
With Flare, security teams can:
- Automatically, thoroughly, and effectively track external threats, notably decreasing the time needed to address risks
- Provide a concise and contextual overview of threat actor behaviors, enabling your security team to respond faster
- Free up your security team to focus on other critical matters, as the platform will alert you to potential risks requiring mitigation, while filtering out irrelevant alerts
A Quick Overview of the Third-Party Threat Landscape
What are third-party threats?
Third-party threats originate from external entities that your organization does business with, such as suppliers, vendors, or service providers. These threats can arise from weaknesses in the third party’s security posture that can be exploited to gain unauthorized access to your data or systems.
What is the importance of monitoring third-party threats?
Monitoring third-party threats is crucial because it extends your cybersecurity perimeter beyond your direct control. Identifying and assessing these threats proactively can prevent breaches and protect your organization’s sensitive data from being exposed through external vulnerabilities.
What are common examples of third-party threats?
Common examples include:
- Data breaches at a vendor that result in your data being exposed
- Compromised software supplied by a vendor
- Ransomware attacks on a service provider that affect your operations
How should organizations shift viewing their cybersecurity posture to include third-party threats?
Organizations need to adopt a comprehensive view of cybersecurity that includes not just their internal controls but also the security posture of their partners. This means incorporating third-party risk assessments and monitoring into their overall cybersecurity strategy. By using the Continuous Threat Exposure Management framework, security teams should continuously monitor all relevant external risks to their organization.
Assessing Third-Party Threats
What steps should companies take to assess their third-party vendors’ cybersecurity posture?
Companies should:
- Perform thorough risk assessments, which include reviewing the vendor’s security policies
- Conduct audits
- Evaluate compliance with industry standards
- Regularly monitor the vendor’s cybersecurity practices for any changes
- Automatically and regularly monitor for any external exposures
How does the rise of cloud services and SaaS affect third-party risk management?
The use of cloud services and SaaS introduces new vectors for third-party risks, as organizations now rely more on external providers. This necessitates a different approach to risk management that includes stringent security assessments and continuous monitoring of these services.
How does third-party intelligence and risk management fit into a broader cybersecurity strategy?
Third-party intelligence is a critical component of a broader cybersecurity strategy, ensuring that security teams identify, assess, and mitigate external risks. This is a core element of ransomware readiness, so that security teams are appropriately prepared to respond to ransomware attacks on any part of their supply chain.
Best Practices: Mitigating Third-Party Threats
What are the best practices for managing and mitigating third-party cyber risks?
Best practices include:
- Conducting regular security assessments of vendors
- Establishing clear security requirements in contracts
- Implementing continuous monitoring tools
- Fostering open communication with third parties about cybersecurity expectations
How should companies respond to a third-party data breach?
In the event of a third-party data breach, companies should immediately assess the impact, communicate transparently with stakeholders, and work closely with the third party to mitigate any damage. Implementing a response plan that includes these steps is essential.
What legal and regulatory considerations come into play with third-party cyber threats?
Organizations must consider compliance with data protection regulations, such as NIS2, which hold them accountable for their third parties’ cybersecurity practices. This includes ensuring that vendors meet regulatory standards to avoid legal and financial penalties.
What tools and technologies are available to help monitor and manage third-party cyber threats?
Various tools and technologies, including third-party risk management platforms, security ratings services, and continuous monitoring solutions, help in identifying and managing third-party vulnerabilities and threats.
What role do employees play in protecting against third-party cyber threats?
Employees play a crucial role by adhering to security policies, undergoing regular training on identifying risks, and reporting any suspicious activities, especially related to social engineering. Employees are the first line of defense against third-party threats, and their commitment to following security policies helps immensely in securing an organization’s external attack surface.
Third-Party Threat Monitoring with Flare
The Flare Threat Exposure Management (TEM) solution empowers organizations to proactively detect, prioritize, and mitigate the types of exposures commonly exploited by threat actors. Our platform automatically and constantly scans the clear & dark web and illicit Telegram channels to discover unknown events, automatically prioritize risks, and deliver actionable intelligence on third-parties that you can use instantly to improve security.
With Flare Supply Chain Ransomware Exposure Monitoring, gain unique visibility and proactive security across your third-parties to efficiently mitigate threat exposures that exist within ransomware data leaks. Learn more by signing up for our free trial.
