Third Party Risk Management

Third-Party Risk Management (TPRM) identifies, assesses, and mitigates risks associated with engaging external entities, such as vendors, suppliers, contractors, or service providers. These third parties often have access to sensitive data, systems, or processes, which can introduce vulnerabilities and potential disruptions to an organization.

TPRM aims to ensure that third parties operate in a manner that aligns with the organization's objectives, complies with relevant regulations, and protects sensitive information. It involves establishing controls and monitoring mechanisms to manage the risks throughout the entire lifecycle of the third-party relationship, from initial onboarding to eventual offboarding.

Critical components of TPRM include:

• Due diligence: Conduct thorough assessments of potential third parties to evaluate their capabilities, security posture, financial stability, and compliance practices.

• Risk assessment: Identifying and evaluating the specific risks associated with each third party, including cybersecurity threats, operational disruptions, financial risks, reputational damage, and legal or regulatory non-compliance.

• Contractual agreements: Establishing clear contracts and service level agreements (SLAs) that outline the responsibilities and expectations of both parties, including data protection measures, incident response procedures, and termination clauses.

• Ongoing monitoring: Monitor third-party activities and performance to ensure compliance with contractual obligations, security standards, and regulatory requirements.

• Incident response: Implementing procedures to address any incidents or breaches involving third parties, ensuring prompt communication, investigation, and remediation.

Effective TPRM helps organizations safeguard their critical assets, maintain business continuity, and protect their reputation by proactively managing the risks associated with third-party relationships. It is an essential component of a comprehensive risk management strategy, particularly in today's interconnected and complex business environment, where reliance on third parties is increasingly prevalent.

ThreatNG's Comprehensive Approach to Third-Party Risk Management

ThreatNG's powerful capabilities, encompassing External Attack Surface Management (EASM), Digital Risk Protection (DRP), and Security Ratings, provide a robust solution for addressing Third-Party Risk Management (TPRM) challenges. By leveraging its superior discovery, assessment, continuous monitoring, and intelligence repositories, ThreatNG can:

Enhance Due Diligence:

• Deep Dive into Third-Party Digital Footprint:

  • Domain Intelligence: Uncover potential risks through DNS misconfigurations, subdomain vulnerabilities, expired certificates, exposed APIs, or unsecured development environments.

  • Cloud and SaaS Exposure: Identify unauthorized cloud services, misconfigurations in cloud storage, or vulnerabilities in SaaS applications used by the third party.

  • Technology Stack Analysis: Evaluate the security posture of third-party technologies, including outdated software or vulnerable components.

  • Dark Web Presence: Detect compromised credentials, data leaks, or ransomware events related to the third party.

• Assess Security Posture and Compliance:

  • Search Engine Exploitation: Uncover sensitive information leaks, misconfigurations, or vulnerabilities inadvertently exposed by the third party.

  • Social Media Analysis: Monitor for any negative sentiment, data breaches, or security incidents involving the third party.

  • Sensitive Code Exposure: Identify exposed code repositories or mobile apps containing sensitive information like API keys or passwords.

  • Archived Web Pages: Discover historical vulnerabilities or sensitive data leaks that might still be exploitable.

  • Sentiment and Financials: Evaluate the third party's financial health and reputation through SEC filings, ESG violations, or layoff chatter.

Continuous Monitoring and Risk Mitigation:

• Alerts and Notifications: Proactively identify new threats, vulnerabilities, or changes in the third party's digital footprint, allowing for timely risk mitigation.

• Ongoing Security Ratings: Continuously assess and benchmark the third party's security posture against industry standards and peers.

• Incident Response Support: Provide valuable intelligence and context during security incidents involving the third party.

Complementary Solutions Integration:

• Threat Intelligence Platforms: Integrate with existing threat intelligence platforms to enrich ThreatNG's intelligence repositories and provide more comprehensive risk insights.

• Security Information and Event Management (SIEM) Systems: Feed ThreatNG's alerts and findings into SIEM systems for centralized monitoring and incident response.

• Vulnerability Management Tools: Correlate ThreatNG's vulnerability findings with internal vulnerability scans for a holistic view of third-party risks.

Examples of ThreatNG in Action for TPRM:

• Identifying a Vulnerable Subdomain: ThreatNG's Subdomain Intelligence module uncovers a forgotten subdomain of a third-party vendor that is susceptible to takeover, potentially leading to phishing attacks or data breaches.

• Detecting Exposed API Keys: The Sensitive Code Exposure investigation module flags API keys inadvertently exposed in a public code repository used by a third-party developer, posing a risk of unauthorized access to sensitive data.

• Uncovering Cloud Misconfigurations: ThreatNG's Cloud and SaaS Exposure module identifies an open Amazon S3 bucket belonging to a third party that exposes sensitive customer data.

• Monitoring for Negative Sentiment: Social Media analysis picks up negative chatter regarding a third party's data breach, allowing for proactive measures to protect sensitive information shared with that vendor.

• Evaluating Supply Chain Risk: ThreatNG's comprehensive capabilities help assess the overall security posture of a third party's supply chain, identifying potential vulnerabilities and weak links.

ThreatNG's all-in-one solution empowers organizations to conduct thorough due diligence, continuously monitor third-party risks, and proactively mitigate potential threats. By leveraging its superior discovery and assessment capabilities, ThreatNG helps organizations make informed decisions, strengthen third-party relationships, and ensure a secure and resilient ecosystem.