If a third-party vendor neglects security updates, it exposes your organisation to significant risks, including potential data breaches and compliance violations. To mitigate these risks : ? A robust Third-Party Risk Management (TPRM) program is essential, along with contract clauses mandating timely updates. ? Regular vendor audits, cybersecurity insurance, and an incident response plan tailored to vendor-related breaches are critical. ? Ongoing monitoring tools and clear communication with vendors ensure security updates are applied. ? Vendor contingency plans and employee training on third-party risks further enhance preparedness for potential security lapses.

As a cybersecurity leader, dealing with third-party vendors who neglect security updates is a critical risk that needs proactive management. Be sure to implement a robust vendor risk management framework that includes regular assessments of vendors' security practices. This means conducting thorough due diligence before onboarding them and periodic reviews to ensure compliance with security standards. Ensure that contracts with vendors include clear terms regarding security expectations, responsibilities, and consequences for non-compliance, such as failure to apply necessary security updates. Employ tools and practices that continuously monitor third-party vendors. Have a strategy for quickly replacing critical vendor services if needed.

Neglecting security updates on business-critical systems by your vendors can have severe consequences. Following are some recommendations: ? Strengthen TPRM Program: Ensure Third-Party Risk Management (TPRM) includes requirements for vendors to regularly apply and test security patches before production use. ? Schedule Performance Reviews: Regularly review vendor performance, emphasizing patch management. ? Obtain Cyber Insurance: Choose policies that cover third-party risks. ? Include Penalty Clauses: When possible, add clauses for missed critical updates. ? Update Incident Response Plan: Involve vendors in incident response drills for critical systems.

?? Assess the Damage – Quickly determine if any systems or data are compromised. ?? Communicate with Stakeholders – Transparently inform leadership and clients about the potential impacts. ?? Review Vendor Policies – Update contracts to enforce regular security updates and ensure vendor accountability. ?? Increase Vendor Audits – Conduct more frequent audits to ensure compliance with security protocols.

Safeguarding against third-party oversights requires proactive risk management. I prioritize thorough vendor assessments, ensuring they meet our security standards. Regular audits and clear communication channels help us monitor compliance with critical updates. In case of a lapse, I swiftly assess potential damage, communicate transparently with stakeholders, and revise vendor policies to reinforce accountability, minimizing future vulnerabilities and protecting the business.