Cyberattacks are on the rise and show no signs of slowing down. As businesses expand and grow they need to be prepared to evaluate the potential risks and vulnerabilities to safeguard their data and assets. This process is called due diligence. In a cybersecurity context it means thorough research and evaluation of third-party partners, vendors and acquisitions, and ensuring that they are in line with the standards of security set by an organization.
Due diligence is the process of exercising the same amount of care as a prudent individual or company would in similar circumstances. In the context of cybersecurity it refers to the ongoing efforts that an organization takes to keep its security in check and to prevent data breaches. This includes establishing security policies as well as implementing security measures and constantly checking for residual risks. It is also about being informed of industry and legal standards such as GDPR, HIPAA and ISO 27001 and making sure that the practices of the company adhere to these regulations.
Lastly, due diligence requires that companies understand and reduce the risk of third party suppliers in their supply chain. This can be accomplished by creating a vendor-management program that includes assessments as well as continuous monitoring of risk from third parties. It is important to establish clear expectations with vendors so they comply with the guidelines and policies.
It is also crucial to keep track of the dark web as a closed online community where cybercriminals trade data and attack methods. Monitoring the dark internet can help organizations enhance their incident response plans, and become more resilient to https://towardsbillionaire.com/the-relevance-of-facilitation-software-for-board-of-directors/ cyberattacks.
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