Cybersecurity and Third-Party Risk. Gregory C. Rasner

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Cybersecurity and Third-Party Risk - Gregory C. Rasner


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      Cybersecurity frameworks provide organizations with guides to how to lower their risk to security incidents. Frameworks to focus on include NIST‐CSF, ISO 27001 and 27002, NIST‐853, Federal Information Security Management Act of 2002 (FISMA), New York Department of Financial Services (NYDFS), and any that are applicable to the industry, country, or region where business is conducted. The adoption and adherence to one or more of these structures informs the customer how the vendor approaches this risk reduction. Speaking to them in their “language” by understanding their framework adoption can ease discussions about gap analysis and remediation steps.

      The types of cybercrime and cyber threats are always evolving. Advanced Persistent Threats (APTs) and cybercriminal organizations pose the largest threat to others as they tend to have near infinite time, resources, and energy. The types of attacks are equally varied, but the ones that are most often impactful or seen recently have been phishing and ransomware attacks. Social engineering using fake emails to fool an insider to give away their credentials, or to download malware that encrypts all their files, is often that path of least resistance for a hacker.

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