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The 10 Biggest Cybersecurity Risks Businesses Face In 2021

Michael Novinson

From cloud misconfigurations and unsegmented networks to extorting ransomware victims and taking advantage of their cyberinsurance policies, here are the most significant risks organizations face.

Third-Party Service Providers

From videoconferencing to whiteboard products to file sharing, companies are using more technology products to facilitate remote work and close the gaps that didn’t exist when employees were together in person, according to Greg Pollock, UpGuard’s vice president of product. A natural part of digital transformation is having more technology vendors and consuming more third-party software, he said.

But every new technology vendor in an organization’s supply chain introduces additional risk to the business, Pollock said. It has become increasingly common for a breach at a single company like SolarWinds, Accellion or Kaseya to impact tens, hundreds or even thousands of other companies or government entities around the world, according to Pollock.

The breach of a supplier will likely result in more than just the loss of availability of whatever service they provide and could result in the loss of confidentiality around sensitive information that was shared with them, Pollock said. Ransomware gangs are trying to more pointedly incentivize victims to pay by making attacks more damaging to their customers and business partners, according to Pollock.

 
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