Data breach incidents involving third-party vendors are not something new for the community. However, the rising occurrence of these incidents in the last few years has been alarming. In Singapore alone, there have been three high-profile data breach incidents related to third-party vendors in the first quarter of 2021.
The incidents involved the country’s key industries that were supposedly impenetrable, raising higher concerns that insufficient oversight and management of third-party vendors are the weak links in Singapore’s cybersecurity strategy.
Has your organisation mapped out a plan on Third-Party Risk Management?
