Managing Third-Party Ransomware Risk
Ransomware detections in Q1 2022 alone doubled the total volume reported for all of 2021. Financial institutions are attractive targets for ransomware attacks due to the value of the assets and data they are responsible for. But FI’s are also vulnerable because of the extent of their reliance on third parties. Download our whitepaper to get an overview of this growing risk and the ways to manage it
The research firm Forrester predicts that 60% of this year’s security events will stem from third parties since hackers prefer to target vendors rather than FI’s directly. It is not enough for FIs to simply strengthen their own defenses; they must also ensure that the security of their third-party vendors is equally strong. Ransomware attacks have not only become much more frequent, but they are also more sophisticated and costly than in years past.