Multi-party cyber incidents threaten to have a far greater impact than those affecting single companies.
The average financial loss from a multi-party cyberattack — impacting third parties as well as the primary victim — is nearly 13 times larger than the losses from events involving a single party. That’s the conclusion of new research from the Cyentia Institute and RiskRecon. When it comes to gauging the impact of “ripple events,” they find, downstream organizations outnumber primary victims by more than 800 percent. On this episode, we speak with Wade Baker, author of the report and founder of the Cyentia Institute, and Kelly White, CEO of RiskRecon. They explain how multi-party events occur, which industries have the highest vulnerability, and what companies can do to minimize the impact of ripple events. As supply chains become increasingly interdependent, they note, such attacks will only continue to get worse. Hosted by Bob Bowman, Editor-in-Chief of SupplyChainBrain.