Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Attacks/Breaches

10/26/2015
10:30 AM
Connect Directly
Twitter
LinkedIn
RSS
E-Mail vvv
100%
0%

New Approaches to Vendor Risk Management

The key to managing partner security risk is having truly verifiable evidence.

In the legend of Troy, Greek warriors spent a significant amount of time trying to break into huge walls surrounding the city until Odysseus had a clever idea: leave a wooden Trojan horse outside and hide the soldiers inside. Today, the city of Troy is your company and the modern equivalent to the Trojan horse are your third party systems.

Organizations spend inordinate amounts of money protecting their fortresses, but they neglect the immediate risks posed by unfortunate partners. Today, organizations attempt to rein in third-party risk through on-site visits, security questionnaires, and intrusive, one-time audits. These security measures are an exercise in trust, but difficult to fully verify.  As a result, forward-leaning organizations are looking for a fresh approach to manage their security-risk environment.

If you have hundreds of vendors today, there is almost no way to know all of the security-risk issues they have. You send a questionnaire, jump on the phone, incorporate legal provisions into the contract, and pray that vendor responses are correct. The key to managing partner risk is having truly verifiable evidence. In business, the faster you are able to make an informed decision the more business value you can extract.

Source: Dr. Aleksandr Yampolskiy
Source: Dr. Aleksandr Yampolskiy

You also need to know which vendors pose less risk to your company and deserve fast-tracked assessments. As facts about third-party security risk become more readily apparent, proactive management will be needed. How do you get there? You can start by following these seven steps:

  1. Get your executive team to buy in and the general counsel to participate
  2. Separate your vendors into groups of low, medium, and high criticality.
  3. Ask for objective evidence, supporting answers that third parties presented in the questionnaire.
  4. Work with, not against your partners.
  5. Evaluate and measure vendor performance as a continuous process.
  6. Establish regular touch points and personal relations with vendors to review common risk threats
  7. Reserve the right to audit vendors.

Make the case with information

The independent security risk evidence that is now available via technologies that span big data, threat intelligence, and governance, risk, and compliance systems can help organizations make smarter decisions. When this information is accurately placed in a comparative business context, companies can begin to prioritize vendor management resources and speed up the time to remediation. With this intelligence, we can improve the maturity of our risk management and vendor management programs. But this intelligence must be in a business-friendly context. 

The bottom line: technical metrics alone will not suffice. We need to stop pretending the paperwork we are pushing around is protecting our organizations and our customers. We need stronger levels of trust based on rapid, factual, and accurate information that is completely independent from our partner relationships. 

Black Hat Europe returns to the beautiful city of Amsterdam, Netherlands November 12 & 13, 2015. Click here for more information and to register.

Dr. Aleksandr Yampolskiy is the CEO and Founder of SecurityScorecard, the leading security risk benchmarking service. In the past, he has been the head of security and compliance at Gilt Groupe, and has held lead technologist and security roles at Goldman Sachs, Oracle, and ... View Full Bio
Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Data Leak Week: Billions of Sensitive Files Exposed Online
Kelly Jackson Higgins, Executive Editor at Dark Reading,  12/10/2019
Lessons from the NSA: Know Your Assets
Robert Lemos, Contributing Writer,  12/12/2019
4 Tips to Run Fast in the Face of Digital Transformation
Shane Buckley, President & Chief Operating Officer, Gigamon,  12/9/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
The Year in Security: 2019
This Tech Digest provides a wrap up and overview of the year's top cybersecurity news stories. It was a year of new twists on old threats, with fears of another WannaCry-type worm and of a possible botnet army of Wi-Fi routers. But 2019 also underscored the risk of firmware and trusted security tools harboring dangerous holes that cybercriminals and nation-state hackers could readily abuse. Read more.
Flash Poll
Rethinking Enterprise Data Defense
Rethinking Enterprise Data Defense
Frustrated with recurring intrusions and breaches, cybersecurity professionals are questioning some of the industrys conventional wisdom. Heres a look at what theyre thinking about.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-5252
PUBLISHED: 2019-12-14
There is an improper authentication vulnerability in Huawei smartphones (Y9, Honor 8X, Honor 9 Lite, Honor 9i, Y6 Pro). The applock does not perform a sufficient authentication in a rare condition. Successful exploit could allow the attacker to use the application locked by applock in an instant.
CVE-2019-5235
PUBLISHED: 2019-12-14
Some Huawei smart phones have a null pointer dereference vulnerability. An attacker crafts specific packets and sends to the affected product to exploit this vulnerability. Successful exploitation may cause the affected phone to be abnormal.
CVE-2019-5264
PUBLISHED: 2019-12-13
There is an information disclosure vulnerability in certain Huawei smartphones (Mate 10;Mate 10 Pro;Honor V10;Changxiang 7S;P-smart;Changxiang 8 Plus;Y9 2018;Honor 9 Lite;Honor 9i;Mate 9). The software does not properly handle certain information of applications locked by applock in a rare condition...
CVE-2019-5277
PUBLISHED: 2019-12-13
Huawei CloudUSM-EUA V600R006C10;V600R019C00 have an information leak vulnerability. Due to improper configuration, the attacker may cause information leak by successful exploitation.
CVE-2019-5254
PUBLISHED: 2019-12-13
Certain Huawei products (AP2000;IPS Module;NGFW Module;NIP6300;NIP6600;NIP6800;S5700;SVN5600;SVN5800;SVN5800-C;SeMG9811;Secospace AntiDDoS8000;Secospace USG6300;Secospace USG6500;Secospace USG6600;USG6000V;eSpace U1981) have an out-of-bounds read vulnerability. An attacker who logs in to the board m...