Sarah Hemmersbach or Mitratech Holdings writes:
A third-party data breach occurs when malicious actors compromise a vendor, supplier, contractor, or other organization to gain access to sensitive information or systems of the victim’s customers, clients, or business partners.
Third-party data breaches are becoming increasingly common as technology makes it easier for businesses to connect and as global supply chains grow in complexity. In fact, according to the latest Data Breach Investigations Report, 30% of all data breaches stem from third-parties, nearly double from the year prior.
What’s more, third-party breaches are among the most expensive for organizations to recover from. Data from the last year’s IBM Cost of a Data Breach Report shows that third-party breaches are the third highest predictor of increased breach costs, increasing costs by 5% above the average.
Read more at JDSupra. The article contains notable examples from recent and past years.
