With the advent of the digital age, cyberattacks have been on the rise—seemingly with no individual or business being entirely safe from this looming threat. To avoid falling prey to a cyberattack, companies have been investing huge sums in thoroughly securing their own on-premises infrastructure and data.
Unfortunately, there are a wide array of methods a malicious hacker could utilise in launching a cyberattack—some of which only the best IT security companies in Singapore may be able to identify. Third-party security vulnerabilities, in particular, can be easily exploited due to security lapses from vendors and service providers.
Regardless of how much effort businesses put into performing security checks and planning out a security strategy, these measures often fail to extend to third-party associates. Cybercriminals target this weak link in the chain to victimize companies, thereby making it a necessity to account for third-party security vulnerabilities in all cybersecurity strategies.
The following are measures to implement to help businesses better identify, tackle and resolve potential third-party security vulnerabilities:
Be aware of where your data is stored
Companies tend to give service providers and third-party vendors access to sensitive and confidential data when working with them. Even if data confidentiality and privacy are agreed upon in the service agreements, more often than not, organizations cannot attest to whether or not their data is truly safe with these third-party associates. Businesses need to be fully aware of where the data resides and exactly what data these service providers and vendors have access to. In doing so, it will be easier to put in place proper measures to safeguard the shared data.
Stick to one security strategy
It’s a common practice for companies to make use of different security strategies for internal and external resources. As important as it may be to secure the organization’s data, resources and infrastructure within its perimeter, all of this could easily go down the drain simply by making the mistake of overlooking third-party associates. Though these external vendors and service providers may reside outside of a business’s perimeter, they still need to be accounted for as a crucial aspect of the organization’s security infrastructure and cybersecurity strategy. Sticking to a single plan allows for a common monitoring platform, in addition to ease of management and maintenance.
Single sign-on solutions
Incorporating identity access management products such as single sign-on solutions into a corporation’s IAM process can be incredibly beneficial. Tap onto blockchain security to empower the existing protocols of SAML SSO and ensure uniformity in the user log-in process and access control via a decentralised distributed ledger. This makes for timely updates in security aspects like passwords and multifactor authentication, firmly securing al users and processes. SSO solutions can mitigate the tendency of losing credentials due to human error, streamlining the user experience and strengthening security.
Prepare a backup and recovery plan
With the frequency of cyberattacks and data breaches these days, it’s no longer a matter of if it will happen—but rather when. So is data loss as a result of hardware or software problems or outages. Have a contingency plan prepared in case things go downhill—even if it’s caused by a third-party associate. In the meantime, get all your organization’s confidential and critical data backed up in case of any eventualities.