These days, third-party risk management requires a new approach, says Routh. "One that enables companies to understand where risks lie within their digital ecosystem, tailor their controls according to those risks, and collaborate with their third parties to remediate and mitigate those risks."
More on hacks and breaches:
- The 16 biggest data breaches of the 21st century
- The Target data breach settlement sets a low bar for industry security standards
- Two years after the OPM data breach: What government agencies must do now
- Anthem: How does a breach like this happen?
- Lessons from the Heartland Payment Systems data breach, redux
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