Cyberattacks can have a devastating impact in terms of reputation and customer trust. Gartner estimates that global information security spending will hit $76.9 million this year, up 8.2% on 2014. No matter how much internal systems are tightened and improved, companies can still be exposed by third-party vendors. Regulators in the U.S. and Europe are starting to bring more pressure to bear. We find the same root causes every time a failure to identify and manage third party risk.”]
Source: https://www.csoonline.com/article/3005320/the-challenges-of-third-party-risk-management.html