Breaches most commonly occur through weak, stolen, or reused passwords.
If a third party with privileged access to your network has their login credentials stolen in a breach, criminals have an easy path to your data and IP. SpyCloud Third Party Insight draws on the largest repository of breach records in the world to give you visibility of your third-party exposures and take action to remediate.
Fifty-three percent of organizations experienced at least one third-party breach in 2019, with an average remediation cost of $7.5M.1
The average total cost of a data breach is $3.86M, which is amplified by $207,411 when it’s a third-party breach.2
Forty-nine percent of M&A experts say they have seen a transaction derailed by a breach that emerges during the due diligence process.3
One of the best ways of infiltrating a business is to attack the supply chain. If you can’t get to the people within the organization directly, then embedding yourself in lines of communication has to be the next best thing – if not even better in some cases...So we have used SpyCloud to check on third parties’ security posture.
– Dan Holland, Global Senior Director of IT Operations at Alvarez & Marsal
SpyCloud Third Party Insight simplifies vendor risk management with ongoing monitoring of your third parties’ breach exposures, so you can identify risks to your enterprise quickly. When a new data breach compromises credentials tied to one of your partner companies, SpyCloud alerts you to the change and makes it easy for you to share details with the affected third party.
SpyCloud ingests new breach data all the time, giving you peace of mind that you have visibility of the latest account takeover threats that can weaken vendor cybersecurity and threaten your supply chain.
Watch the webinar: Hard Truths About ATO & Strategies To Defend Your Enterprise
After a breach occurs, criminals work with a tight group of associates to crack passwords and extract value from the stolen data, often launching sophisticated, targeted attacks that put enterprises and their partners at high risk. After monetizing the data over about 18-24 months, the criminals eventually allow the data to leak to the deep and dark web, where it becomes a commodity that any unsophisticated criminal or scraping tool can access. By then, it’s often too late.
With SpyCloud Third Party Insight, you can identify third-party exposures before criminals can exploit them. SpyCloud researchers use human intelligence to gain access to breach data early in the timeline, enabling you and your partners, vendors, and suppliers to take action quickly and head off targeted attacks.
Many vendor risk management solutions fall short when it comes to enabling high-risk vendors to close their security gaps. In contrast, SpyCloud Third Party Insight makes it easy for you to share full details with affected parties so they can remediate.
Within the SpyCloud portal, third parties can see the exact employee credentials that have been exposed in data breaches, including plaintext passwords, making it easy for them to reset passwords for affected users and resolve their exposures.
Get a taste of what partners see by checking your own corporate exposure.
When you share SpyCloud data with your third parties, they have two remediation options: using SpyCloud Active Directory Guardian to detect and reset exposed passwords automatically, or downloading a CSV file to remediate manually.
Once the third party attests that they have resolved their exposed credentials, their vendor risk assessment scores will decrease within the SpyCloud portal. Because SpyCloud Third Party Insight reports on risk level changes, you can easily identify third parties who have recently taken a remediation action, helping you validate that your vendor risk management program is effective.
According to the US Treasury Department, business email compromise (BEC) scams cost organizations in the US about $300 million per month. While training your employees to spot signs of fraud can help, vendor email compromise introduces additional challenges.
Your company places trust in your third-party relationships—and so do your employees. If a criminal gains access to a legitimate email address from one of your partners, they can easily convince your employees to take risky actions with high credibility by mimicking existing communication patterns and choosing plausible calls to action.
SpyCloud Third Party Insight helps you and your third parties combat BEC fraud by detecting exposed third-party credentials before criminals have a chance to use them for malicious purposes, helping you simplify vendor risk management.
When you acquire a company, their security gaps become your own.
SpyCloud Third Party Insight goes beyond vendor risk management, giving you visibility of potential targets for mergers and acquisitions.
By assessing prospective prospective M&A targets’ account takeover exposures, you can identify potential red flags that could endanger the partnership and make sure any compromised credentials are remediated before you join forces.
Strengthen your vendor risk management program with SpyCloud Third Party Insight