Third-Party Risk Management (Data Privacy and Security)

Reliance on third-parties has exploded in the past few years. Whether it is cloud, IoT, big data, social media, or our many interconnected systems, our data is scattered to the four winds. How do we ensure that that data is protected? Do we check to see if our data is shared with other parties without our permission? On top of that, if having to secure our systems isn't enough, attacks via third parties are increasing every year. If we aren't checking the security posture of our third-parties and monitoring them for data breaches or other incidents we could easily be blindsided by an security incident. Utilizing Data Privacy Agreements and Third-Party Risk management tools can help us verify how our third-parties rank on their due diligence efforts or if they have had any major security incidents.