Third-party cyber risks impact all organizations

Scenario: Relies on technology vendors to power day-to-day operations; has technology connectivity to the vendor.

Potential risk: Compromising of technology company's products/services impacts the company's network and/or data.

Potential impact: Potential cyber incident, such as breach or ransomware attack, leading to business interruption and related costs.

Example: A software vulnerability leaves an open door for attackers, enabling them to install malicious code on the company's network.