Advertisement
Sunday, Dec 05, 2021
Outlook.com
Outlook.com

3rd party policies make compensation easy post 1st point attack

3rd party policies make compensation easy post 1st point attack
outlookindia.com
1970-01-01T05:30:00+0530
3rd party policies make compensation easy post 1st point attack

New Delhi, Feb 23 (IANS) Nearly three-quarters, around 71 per cent, of enterprises which have specific data usage guidelines for partners and subcontractors received compensation after an incident that affected suppliers they share information with, says a new report from cybersecurity firm Kaspersky.

In comparison, only 22 per cent of organisations of the same size who do not have regulations in place reported this to be the case.

"Small and big enterprises now more than ever need to be prepared for the evolving threat landscape as the Government is ready to make India a Digital Nation and enterprises are the backbone of the economy. Businesses should maintain strict guidelines when involving with third-party providers and should have an even stronger cybersecurity framework in place to mitigate the risks of supply chain attacks," Dipesh Kaura, General Manager, Kaspersky South Asia said in a statement.

Additionally, Kaspersky''s IT Security Economics report revealed that 79 per cent of enterprises have special policies in place explaining to partners and suppliers how to work with shared resources and data, as well as any penalties they may incur.

Their concerns make sense as, according to the survey, damage from incidents is estimated to cost $2.57 million on average, with data breaches among the three costliest problems faced by enterprises. Kaspersky researchers has discovered a number of sophisticated supply chain attacks including ShadowPad.

One of the main benefits of implementing third party policies is that they solve issues around accountability by defining the areas of responsibility for both of the organisations involved.

71 per cent of enterprises with a third party policy reported to receive monetary recompense after an incident, compared to only 22 per cent of peers who did not have regulations in place.

Policies boost the likelihood of compensation amongst SMBs as well. For instance, 68 per cent of SMBs with policies received money, compared to only 28 per cent of those who didn''t implement rules for their subcontractors.

--IANS

wh/rt


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: IANS

More from Website

Maha Omicron Patient Stable, Responding Well To Treatment: Official

Maha Omicron Patient Stable, Responding Well To Treatment: Official

The 33-year-old man from Maharashtra's Thane district, who had tested positive for the Omicron variant of coronavirus, is in a "stable" condition and is responding well to the medical treatment, a senior health official said on Sunday.

Inspira Enterprise To Launch Rs 800-Crore IPO In Dec. Check Size, Other Details

Inspira Enterprise To Launch Rs 800-Crore IPO In Dec. Check Size, Other Details

The company is looking to raise Rs 300 crore through the fresh issuance of equity shares. Besides, there will be an offer of sale of equity shares to the tune of Rs 500 crore.

Biggest IPOs In 2022: These Top 4 Companies Could Be Gamechanger For Investors

Biggest IPOs In 2022: These Top 4 Companies Could Be Gamechanger For Investors

Nifty and Sensex touched their peak with over 60,000 and 18,000 points, respectively, sending positive sentiments to investors. Amid this optimism, many IPOs were launched and some of them did exceptionally well.

More from Outlook Magazine

Diary | I Want To Fly: The Unrealised Dreams Of An Ex-Banker And Mother

Diary | I Want To Fly: The Unrealised Dreams Of An Ex-Banker And Mother

Kaveri Mishra, an ex-banker and a mother, turned into a full-time home-maker four years back. What holds her back every time she wants to return to her career?

India Needs Kabir Today More Than Any Other Time

India Needs Kabir Today More Than Any Other Time

The Mahindra Kabira Festival at Guleria Ghat in Varanasi was a gentle reminder of the Sufi saint’s centrality to India’s syncretism

Death Of Three Dalit Girls And A Story Of Pain And Humiliation

Death Of Three Dalit Girls And A Story Of Pain And Humiliation

Family from UP village forced to run around to complete post-death official paperwork and even last rites.

Advertisement

Outlook Newsletters

Advertisement
Advertisement