Risk Ledger
Overview: Over 60% of today’s data breaches can be attributed to a third party, a number that continues to rise year on year as companies trust an increasing number of suppliers with sensitive and confidential data.
A number of high-profile supply chain data breaches have highlighted the impact such attacks can have, and supply chain risk has featured heavily in a number of recent regulations including the EU’s GDPR and NIS Directive, California’s CCPA and the NYDFS Cybersecurity regulation.
This regulatory environment combined with the potential financial and reputational impact of a supply chain security breach has brought supply chain risk management to the fore. It has risen to become an integral process for any business that relies on its suppliers to process data or provide critical services.
The COVID-19 crisis and associated global lockdowns are causing dramatic increases in the short-term and medium-term risks radiating from an organisation’s supply chain.
This paper will examine why supply chain security risk is increasing during the COVID-19 crisis, and why, as a result, supply chain financial risk will increase in the medium-term. It will then go on to explore how organisations can protect and mitigate against this elevated risk and how they should communicate their exposure to the board.
