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Twenty-nine percent said payment data was compromised, while nearly one-quarter said proprietary company data was exposed. Researchers pointed to three recent cyber events that made headlines, including Not Petya ransomware that used accounting software company MeDoc to spread its attack. million business email compromise scam.
Rather, it comes in the form of how that organization connects to its customers, business partners and suppliers — all thirdparties over which an organization has no control. This is exactly how a well-known ransomware attack like NotPetya was able to take down Maersk’s entire network for multiple days,” he said.
No bank is immune to this threat, with ransomware attacks on financial services increasing from 55 per cent in 2022 to 64 per cent in 2023. Threats can also easily come from the inside as employees or contractors with access to sensitive information may intentionally or unintentionally compromise security.
. “Identity providers will also continue to be targeted, with modern defensive postures being able to bypass controls like multi-factor authentication while threat actors will continue to target third-partyvendors to scale their attacks. In fact, our claims data has shown a significant increase in this activity.
Third-Party Risk Management The Challenge: Your security is only as strong as your weakest link, which often includes third-partyvendors. The Solution: Set clear expectations for vendors by requiring them to comply with SWIFT CSP controls. Operational Disruption : Delays, errors, and compromised systems.
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