Nearly all of the FTSE 100 exposed to possible supply chain security issues

Date:
Mon, 03 Jun 2024 09:51:45 +0000

Description:
With the front doors locked, hackers are going for the back entrance and
often find it in third-party environments.

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Despite heavy investing, and mainly significant improvements in cybersecurity posture, almost all FTSE 100 organizations in the UK, and elsewhere around Europe, are susceptible to cyberattacks, new research has said.

A report from SecurityScorecard claims these major organizations still suffer cyberattacks through third-party compromise.

Many companies have increased the cyber protection of their front doors through measures such as firewalls, stronger passwords , and multi-factor identification, the organization said. As a result, adversaries seek other ways to get it. Often, that means coming in through third-party vendors systems. Unwitting Trojan Horse

And come in - they do. Almost all (97%) of the UKs largest companies suffered a breach in their third-party ecosystem in the last 12 months. To make things worse, the situation is equally bad in the neighborhood: 94% of German companies suffered the same fate, 98% of French, and 95% of Italian organizations.

Using an organization as an unwitting Trojan Horse is far easier than
directly compromising a major company with a fully staffed Security
Operations Center and several layers of security controls, the company concludes.

Yet not all organizations are built the same. Those in Energy and Basic Materials verticals are faring relatively well, with just 12% and 16% of
these companies, respectively, having a third-party breach. Whats more, none of them received a C rating, or lower. The Financial sector was ranked second-best, counting just 5% of companies with a C rating or lower.

On the other end of the spectrum are organizations in the Communications industry, with 70% scored C or lower.

Last year, 12% of FTSE 100 organizations in the UK suffered a data breach, as well as 8% of GErman, 7% of French, and 3% of Italian companies.

All companies should prioritize improving application and network security, the press release concludes. These two aspects are fundamental to
safeguarding against a wide range of cyber threats. Any companyregardless of size, industry, value, or revenuecan be a target for cybercriminals if it doesnt have strong cyber defenses. More from TechRadar Pro American Express confirms customer details exposed third-party data breach sees info leaked online Here's a list of the best firewalls today These are the best endpoint protection tools right now



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Link to news story: https://www.techradar.com/pro/security/nearly-all-of-the-ftse-100-exposed-to-p ossible-supply-chain-security-issues


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