What the Ascension Breach Means for You

Posted by RiskRecon on Mar 21, 2019 3:33:50 PM

We’re well-versed in security breaches by now, but there’s still some uncertainty about whom to blame when things go wrong. A solid example of that is the recent Ascension Breach that involved Rocktop Partners, OpticsML, and various financial institutions in the mishandling of mortgage information.

We’ve delved into the Ascension Breach in a recent article published in Information Management. There are three important takeaways from the Ascension Breach:

 

  1. Information security matters – Regardless of the size of your organization, you’re responsible for protecting the privacy of your data. Being a small business is no excuse.
  2. Risk surface is expansive – Your risk surface isn’t limited to your immediate systems; it’s anywhere the confidentiality, integrity, or availability of your data or transactions are at risk. That risk includes your third- and often fourth-party vendors.
  3. You’re responsible for investigating your partners’ information security – If your customers have given you data—in this case, sensitive mortgage information—you’re responsible for protecting that information even if you sell it.
  4. Regulations need to expand – While banks are strongly regulated, entities that deal with financial institutions and interact with their data are often not. Regulations need to regulate every organization that deals with consumer information.

And what about the customer? Where do they stand? Read the full article to delve into the details of the breach.

 

 

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Topics: threat investigation, risk exposures, 3rd party risk management, Third Party Risk

RiskRecon Partners with RSA Archer

Posted by RiskRecon on Mar 18, 2019 12:36:19 PM

We’re excited to announce RiskRecon’s new partnership with RSA Archer. RSA Archer was last year recognized as a leader in Integrated Risk Management in Gartner’s Magic Quadrant report, and for good reason: the software excels in threat detection and response, fraud prevention, integrated risk management, and identity and access management.

Now, RSA Archer users have access to RiskRecon’s in-depth third-party vendor risk assessments, making enterprise companies’ risk management practices more comprehensive and providing valuable cybersecurity knowledge upon which companies may act with confidence.

The partnership is an ideal marriage of risk management techniques. With RiskRecon, customers will have significant visibility into objectively verified security questionnaire responses, saving analysts significant time and yielding better third-party risk outcomes.

"Given how widespread and impactful issues related to third parties have become, it's clear that organizations must manage third-party risk more actively," said David Walter, Vice President of RSA Archer. "By partnering with RiskRecon, we can better enable customers to minimize risk by establishing continuous, actionable visibility into the security of their third parties."

We’re excited for this opportunity to help more customers significantly manage cyber risk and are honored to be part of RSA Archer’s innovative and impactful integrative risk management approach.

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Topics: Vendor Risk Management, 3rd party risk management, Vendor Security, Third Party Risk

6 Tips for Administering Better Vendor Questionnaires

Posted by RiskRecon on Mar 12, 2019 1:18:03 PM

Vendor questionnaires are a vital part of determining the cyber risk of your third- and fourth-party vendors, but they also are risky propositions in and of themselves. After all, administering a vendor questionnaire involves a tremendous amount of trust: it’s a bit like trusting a cook when you have a severe gluten allergy.
In our latest article in Dark Reading, we provide six solutions to ensure you’re getting the most out of your vendor questionnaires. Here’s a rundown of those six solutions:

1. Keep your questionnaires to a reasonable length to keep costs low and engagement high.
2. Trust the answers you’re given, but verify them.
3. Alter the frequency at which you administer questionnaires: less often for high-performing vendors and more frequently for vendors who have difficulty coming into compliance.
4. Customize your questions to fit your vendor, and use the questionnaire to target the data you’re most interested in.
5. Don’t rely on vendor questionnaires alone: make a cybersecurity risk rating platform an integral part of your third-party vendor security investigation.
6. Determine the answers you need and then craft the questions after; don’t use yes/no questions unless they’re very specific.

Of course, that’s all easier said than done. For advice on how to implement our solutions, read the full article.

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Topics: Vendor Risk Management, 3rd party risk management, Vendor Security, Third Party Risk

SC Magazine Unveils RiskRecon Review

Posted by RiskRecon on Mar 6, 2019 2:13:50 PM

As vendor risk management becomes a more clear and present danger, the challenge for mitigating vendor risk is twofold:

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Topics: Vendor Risk Management, 3rd party risk management, Vendor Security, Third Party Risk, Merger & Acquisition cyber risk, Review