Cyber attacks are on the rise, with no sign of slowing down. As companies expand and grow they must be aware of potential vulnerabilities and risks to protect their data and assets. This process is called due diligence. In the cybersecurity context it means thoroughly evaluating and researching the partners and third-party vendors and ensuring that they comply with the security standards of an organization.
In general, due diligence means exercising the level of care that a prudent individual or company https://towardsbillionaire.com/the-relevance-of-facilitation-software-for-board-of-directors/ would be expected to in similar circumstances. In the area of cybersecurity it is a reference to a company’s ongoing efforts to maintain their security posture and to prevent data breaches. This includes logging security policies as well as implementing security measures and constantly monitoring the residual risks. It is also important to stay informed about industry and legal standards such as HIPAA, GDPR and ISO 27001.
Due diligence also requires that organizations be aware of and mitigate the risk of third parties in their supply chain. This can be achieved by developing a vendor management program which includes assessments and continual monitoring of risk from third parties. It’s also crucial to establish a clear set of expectations with vendors in order to ensure they are adhering to policies and standards.
Moreover, it is critical to keep an eye on the dark web which is an online community used by cybercriminals to exchange information and attack techniques. Monitoring the dark web can help organizations improve their incident response plans and increase their resiliency to cyberattacks.
