‘Tis the Season to Confront Third-Party Risk

On any given day it’s hard to ensure that outside companies and individuals adhere to an organization’s security practices and policies. But when it’s the holidays and, oh, a global pandemic, companies need to be extra vigilant.

It’s no secret that the holiday season serves up an extra heaping portion of cyber-risk. Businesses large and small find themselves in the crosshairs for highly targeted and cleverly adapted cyberattacks, yet many also rely heavily on temp workers, independent contractors, subcontractors, per diem staff, and vendors that expand the attack surface.

And this year represents largely uncharted territory. As the pandemic grinds on and the dynamics of business and work evolve – including people working from home – third-party risks have skyrocketed.

“We are witnessing unprecedented changes that are altering and expanding exposure for companies,” says David Hau, head of middle market, FINEX cyber, North America at Willis Towers Watson.

One thing is clear:…

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