We all know that third-party collaboration associates numerous threats and vulnerabilities for an organization regarding sensitive data. Unfortunately, you cannot overlook vendors and risk business continuity. So, the ultimate solution is investing in third-party risk management. By now, you already know about the need to manage vendor threats. But before you can do so, you need to learn about the types of third-party data breaches. Here is your ultimate resource to understand the kinds of vendor data breaches.
1. Configurational Issues
Not all data breaches occur due to severe cyberattacks like malware. Sometimes, vendor data stands at stake due to configurational issues in your security infrastructure.
Besides, minor misconfigurations like unpatched solutions at your end can open avenues for data stealths. Misalignment with optimal configurations also occurs when all settings aren't fine-tuned, leading to unexpected data hazards.
Generally, we refer to malware attacks when speaking of cyberattacks. But what does malware mean? It essentially signifies all software products that are intentionally and secretly injected into computer networks to steal confidential information and misconfigure the systems. Here are the types of most common malware causing vendor data breaches
? Ransomware: As the name suggests, these malware attack your systems, captures vendor data, and locks them through encryption. Also, they ask for high ransom (primarily as cryptocurrencies) against decrypting the data and handing it back to you.
? Trojans: The Trojans attempt to induce user actions by compelling them to click on specific buttons. Once they do as directed, trojans install into a system and steal all essential data effortlessly.
? Viruses: Such malware is secretly installed in a system, causing disruptions, misconfigurations, and data breaches.
? Spyware: Spyware watches over your system by tracking keystrokes and clicks. It can easily steal your data and cause many other significant hazards to your business.
3. Phishing Attacks
You must have heard about companies and individuals falling prey to malicious emails and causing immense losses to themselves. These emails are referred to as phishing. Your vendors have a high chance of receiving phishing emails that appear to come from legitimate sources and risk disclosing confidential information about your business. What's the impact? Your venture becomes prone to several fatal threats that seem like a nightmare.
4. Denial of Serv
The most common manipulation with vendor networks is the Denial of Service (DoS). These are thousands of IP addresses that send fake requests to the vendor servers in bulk, blocking all legitimate access from your organization. So, your business faces time delays, leading to discontinuity and temporary paralysis of your workflow.
Although DoS attacks are difficult to dodge, specific mechanisms can block such requests en-route, causing no impact on the normal functioning of the client-server architecture.
So, these were the most common types of vendor data breaches and attacks to consider for an organization dealing with third-party associations. Now, how to prevent such attacks and safeguard your data? It’s simple! At Levizo, we leverage years of experience and cutting-edge mechanisms to wear off such attacks and treasure vendor data without any difficulties.