"Some 98% of Global Firms Suffer Supply Chain Breach in 2021"

According to new research by BlueVoyant, just 2% of global organizations didn’t suffer a supply chain breach last year.  The researchers noted that visibility into cyber risk is getting harder as these ecosystems expand.  The researchers polled 2100 C-level execs with responsibility for supply chain and cyber risk management from companies with 1000+ employees to compile its study.  The researchers found that the top challenges that respondents face include: awareness internally that third-party suppliers are part of their cybersecurity posture, meeting regulatory requirements and ensuring third-party cybersecurity compliance, and working with third-party suppliers to improve their posture.  The researchers noted that supply chains are growing and that the number of firms with over 1000 suppliers increased from 38% in 2021’s study to 50%.  The researchers stated that although 53% of organizations audited or reported on supplier security more than twice annually, 40% still rely on suppliers to ensure security levels are sufficient.  The researchers noted that this means they have no way of knowing if an issue arises with a supplier.  Worse, 42% admitted that if they do discover an issue in their supply chain and inform their supplier, they cannot verify that the issue was resolved.  The researchers stated that just 3% of the respondents monitor their supply chain daily, although the number of respondents using security ratings services to enhance visibility and reduce cyber risk increased from 36% last year to 39% in this year’s study.

Infosecurity reports: "Some 98% of Global Firms Suffer Supply Chain Breach in 2021"