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Checklist: Vendor Cybersecurity to Avoid Third-Party Risks
June 27, 2022
2 minutes
It doesn’t matter how strong your business’ cybersecurity stature is if you’re working with and giving access to third-party organizations that don’t have the same security foundation. When working with third-parties, it’s common to grant them access to certain systems and information in order for them to do their jobs, but many businesses don’t understand the cybersecurity risks associated with this, especially if the third-party business doesn’t have proper security controls in place.
To help, we’ve compiled some tips to assist your business in developing a thorough procedure for auditing a third-party organization’s cybersecurity standing. Use the form below to gain access to our checklist for our full rundown of best practices.
Access your file by filling out this form
Vendor and Third-Party Cybersecurity Best Practices
Auditing your business’ third-party vendors and business partner’s cybersecurity posture is an important part of overall security because these third-parties can present real risks to your business. If cybercriminals can access their system, and they have access to your system, then those criminals can potentially access your system, too.
To protect against risks like unauthorized access or data theft, it’s critical that businesses have procedures in place to measure the cybersecurity stature of their vendors and other third-party partners. To do so, best practices like monitoring protocols, vendor lists, keeping record logs, and consistent contract review are highly recommended to mitigate the risks associated with third-party access.
Third-Party and Vendor Cybersecurity Risks
Speaking of risks, third-parties are often granted similar access rights as employees of a company in order to do the necessary work. This is not uncommon but, if left unchecked, it can quickly become a vulnerability that cybercriminals will take advantage of.
This level of unchecked access can be dangerous and presents just one of numerous risks for businesses when they fail to audit the security systems of their vendors and third-party partners, including:
- Unauthorized access to sensitive business information
- Stolen data and data breaches
- Introduction of outside threats (malware) via third-party system
Use this checklist to learn what security systems you should expect from your third-party partners and see best practices for developing a cybersecurity audit plan to ensure you’re only working with fully secure businesses that won’t create vulnerabilities or expose your business data to cybercriminals.