First American Financial Corporation (FAFC) is facing the first-ever penalty from the SEC in the form of a cease-and-desist order and civil fines, as a result of their lack of disclosure controls and systems surrounding their cybersecurity risk management.
Let’s Reassess How You Think About 3rd Party Assessments!
Caveat: We can’t possibly provide a complete 3rd Party consulting framework in a short blog. This post is to provide you with a new framework for 3rd Party risk and new thinking in assessments.
First, let’s clearly define what a 3rd Party is. We believe they encompass all of the following: suppliers, 3rd Party agents, contractors, distribution centers, call centers, contract manufacturers or assemblers, outsourcing firms, service providers (SaaS, Cloud, and a thousand more).
Last week, we discussed the two strategy pitfalls companies face when they realize that they have regulations, laws, and certifications they need to be in compliance with. This post dives deeper into what companies experience when they go down this path.
Many companies start assessing innocently enough in order to respond to government and/or industry regulations, laws, and certifications with all the right intentions. They want to be in compliance, protect their business, and hopefully use these as differentiators in the market.
Regulatory compliance can be a daunting task for small companies for a variety of reasons. For some, it could be that they do not have the necessary staff to commit to such a project. For others, it may be the lack of capital to pay an expensive consultant to do it for them. Another issue that plagues small companies is the lack of knowledge required to navigate the treacherous waters of regulatory compliance. While JustProtect may not be able to provide your company with more employees or extra money, something we can give you is knowledge. And Knowledge is Power.
Throughout its history, the Department of Defense (DOD) has relied on contractors, these are individuals or non-federal companies that supply services, supplies, or construction. Almost all of these relationships involve the sharing of sensitive information which could present some sort of risk.
You've probably heard how important vendor management is to the success of your information security program. But it's important that you learn how to start a vendor management program and perform assessments for it so that each assessment supports your business.
On July 22, 2019, Equifax agreed to pay around $700 million to settle with the Federal Trade Commission (FTC) and New York State Department of financial services (DFS) for the 2017 data breach that jeopardized sensitive information from nearly 150 million Americans. This will be the largest settlement ever paid for a data breach, almost twice the cost of the Target Breach in 2013.