Vendor-related risks, from both tech providers and non-tech partners, have always been a concern, but they’re now becoming increasingly apparent in a growing number of cyber insurance claims. While data breaches were once the main concern, we are now seeing more severe first-party losses caused by ransomware attacks and major system outages. These issues are not always the result of a cyberattack, either. Sometimes they come from non-malicious errors, like critical system failures or software
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"If you can't see the threat coming, you can't defend against it." The third-party risk management (TPRM) industry has a significant blind spot, and it's becoming increasingly problematic. While we concentrate on SOC reports, ISO certifications, and vendor questionnaires, cybercriminals are actively trading your vendors' stolen credentials, exploiting their vulnerabilities, and planning their next attacks, all in plain sight on the dark web.
The Underground Economy Your TPRM Program Overlooks
