Third-party breaches have become an epidemic as cybercriminals target the weakest link. Organizations such as BestBuy, Sears, Delta and even NYU Medical Center are just a few that have felt the impact of cyberattacks through third-party vendors.
The fallout from these breaches can be costly, as the average enterprise pays $1.23 million per incident, up 24 percent from $992,000 in 2017 according to Kaspersky Lab. The same report also notes that SMBs spend $120,000; an increase of 36 percent from last year.
With a spike in cyberattacks directly targeting supply chains across the globe, the problem stems from several issues: all of them involve some type of necessary sharing, from shared credentials to shared infrastructure.
Weakest Link No. 1: Shared Credentials
Look no further than the Target breach to see