Report sheds light on near universal impact of supply chain breaches

Ninety-seven percent of major organizations across different sectors worldwide have been compromised by supply chain intrusions this year, compared with 81% last year, reports Infosecurity Magazine.

Increasingly prevalent supply chain breaches have prompted organizations to bolster collaboration with third parties in remediation efforts, with 46% stating their development of a mature third-party risk management program, according to a BlueVoyant survey, which polled IT and cybersecurity leaders from nearly a dozen countries, including the U.S.

However, inadequate internal buy-in was noted by 60% of respondents to be the primary barrier to the success of organizations' TPRM programs. Compliance has also been central to the establishment of TPRM programs, with only 16% primarily motivated by risk reduction.

Additional findings revealed that TPRM programs had insufficient integration with enterprise risk frameworks, especially in the financial services, defense, manufacturing, and retail industries. Moreover, vendor expansion has also outpaced organizations' efforts to strengthen threat visibility, validation, and remediation.