Why is it prudent for Third Parties to be contracted to meet specific security standards?

Contracting third parties to meet specific security standards is prudent because vulnerabilities within their networks can be exploited to gain unauthorized access to a client’s environment. Third-party vendors often have access to an organization’s sensitive data and systems, which can become a potential entry point for cyber attackers. By ensuring that third parties adhere to stringent security standards, an organization can better protect itself against the risk of data breaches and cyber attacks that may originate from less secure third-party networks. This proactive approach to third-party security helps maintain the integrity and confidentiality of the organization’s data and systems.

References: The BCS Foundation Certificate in Information Security Management Principles highlights the importance of managing information risk and implementing an effective information security framework, which includes managing third-party risks1. Additionally, industry best practices and guidelines, such as those from the National Institute of Standards and Technology (NIST), emphasize the need for organizations to assess and manage the security risks associated with third-party service providers2.