Third-party Vulnerabilities: Stay Protected from Software Supply Chain Security

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Third-party Vulnerabilities: Stay Protected from Software Supply Chain Security

The global economy is becoming more interconnected, making it easier for hostile actors to carry out these assaults, which take advantage of the trust businesses and their partners have in one another. Supply chain cyber-attacks are on the rise.

In the past 12 months, 45% of respondents to the 2021 Global Security Attitude Survey by cybersecurity company CrowdStrike experienced a supply chain assault. This increased from 32% of respondents in 2018, indicating that hackers are becoming more comfortable using this sophisticated cyberattack.

Attacks on the supply chain increased by 42% in the first quarter of 2021. Surprisingly, 97% of businesses have had a supply chain breach, with 93% experiencing a direct violation due to a supply chain security weakness.

If you are well-prepared, you could be positively affected by a software breach you use or have an essential service or supplier of goods fall offline for several days due to a cyberattack.

Let’s take a closer look at software supply chain security.

 

What is a Supply Chain Attack?

A supply chain attack is a type of cyberattack in which malicious actors attack a company’s supply chain, which can be as simple as stealing money from an e-commerce site or as complex as stealing intellectual property.

In some cases, hackers wait for a company to make a purchase and then try to steal information about that transaction. In other cases, hackers might try to steal money directly from the company’s bank account.

The goal of a supply chain attack is to disrupt the flow of goods from the factory to the store shelf. This can allow attackers to take advantage of the lack of visibility into their supply chains and move more quickly than companies would otherwise be able to do on their own.

 

How Do Supply Chain Attacks Work?

Supply chain attacks are not just about stealing intellectual property like trade secrets or confidential data; they also involve stealing physical assets such as manufacturing equipment or companies.

Supply chain attacks work by taking advantage of vulnerabilities within the supply chain itself. These vulnerabilities could be in the form of human error or poor security practices for the companies involved in making and shipping products.

 

Different Forms of Supply Chain AttackThird-party Vulnerabilities & Software Supply Chain Security middle

Supply chain attacks can take many forms, including firmware, hardware, and software attacks.

 

Supply Chain Attack on Software

One compromised application or piece of software is all needed for a software supply chain assault to spread malware throughout the whole network. Attackers frequently aim for the source code of an application to introduce malicious code into a reliable program or computer system.

Supply Chain Attack on Hardware

Similar to the USB keylogger we previously stated, hardware attacks rely on actual physical objects. To maximize their impact and harm, attackers will aim for a device that travels through the entire supply chain.

Supply Chain Attack on Firmware

An attack that introduces malware into a computer’s booting code can be launched instantly. The malware starts to run as soon as a computer starts up, endangering the entire system. Attacks on firmware are swift, frequently unnoticed if you’re not looking for them, and very destructive.

 

Best Practices to Counter Supply Chain Attacks

Companies can implement various strategies to combat supply chain assaults, from fixing problems with their overall cybersecurity infrastructure to ensuring endpoints are protected against intrusion.

Attacks on the supply chain can be challenging to identify and prevent because they take advantage of organizations’ confidence in their suppliers. Fortunately, there are still methods companies may take to prevent or lessen the effects of a supply chain attack.

 

Install Backup Vendors

You run a considerably more significant chance of downtime if you sell widgets and only have one supplier for a particular component needed for that widget than if you had two vendors.

For instance, most businesses would view themselves as inoperable and unable to function without their internet. If your primary ISP goes down, having a backup provider will help prevent extended downtime.

Use a Model of Zero Trust

Businesses should request that their IT department use a zero-trust approach whenever possible. This restricts the kinds of activities carried out within a network because it presumes that no user or application should be trusted by default.

Implement Security Tools

Firewalls and antivirus software are security solutions that can only sometimes stop supply chain attacks. They might be able to let you know if an attack is happening. For instance, firewalls may be able to identify and halt significant volumes of data from leaving a network, which would indicate a breach. Still, antivirus software can identify malware, such as ransomware.

Include Third-party Threats in Your Threat Intelligence Program

Vendors, suppliers, service providers, resellers, agents, channels, joint venture partners, and intermediaries like payment processors, utilities, nonprofits, subscription services, contractors, affiliates, rating agencies, governmental organizations, and trade associations are all your supply chain.

In the supply chain, businesses and applications work together to deliver products. Security measures in software or physical form could be used to achieve this. On the other hand, more high-risk endpoints result from each additional link. Make careful to double-check all integrations and risks. After all, you cannot defend that which you do not comprehend.

Impose Stringent Shadow IT Regulations

All IT equipment that a company’s security staff has not vetted is called “shadow IT.” As a result of the recent widespread acceptance of a remote-working paradigm, many employees are setting up their home offices with their own personal IT equipment.

All IT equipment should be registered, and there should be clear rules regarding what can and cannot be linked, according to IT security agencies. To identify DDoS assaults conducted through the supply chain, all authorized devices (particularly IoT devices) should be monitored.

 

Conclusion

Although attacks on the software supply chain have increased recently, they have been around for almost a decade. Software developers must follow the best practices to safeguard their build, deployment, and delivery systems.

When protecting the software supply chain, you need to be proactive. For most organizations, security isn’t something they do but rather something they have. They’re likely not setting up or implementing the right solutions and need to address security concerns in their software supply chain. And when the issues arise and are exploited, they’re forced to deal with them later.

You require a well-organized and experienced third-party risk management staff like Protected Harbor to handle supply chain vulnerabilities. The team should frequently and early involve essential suppliers. And to secure the entire supply chain, your technology team should consider blockchain and hyper ledger technologies.

To ensure that your developers and vendors always provide certain products, the best defense is one you build yourself. To delve further into this topic or for more information about software security, contact us today!

Third-Party Cloud-Apps’ Cybersecurity Risks in 2022

Cybersecurity Risks of 3rd Party Cloud-Apps in 2022

Healthcare data breaches are at an all-time high. The Ponemon Institute found that 66% of healthcare organizations experienced a breach of patient data in the past 12 months. And due to recent software vulnerabilities and cyberattacks on healthcare companies, we predict these numbers will continue to rise. The crux of the problem is that most healthcare vendors operate as a closed system that doesn’t sync with other systems outside of their ecosystem. If a vendor is breached, it almost always leads to a data breach for its partners. As such, healthcare organizations must modify their current strategy and begin working with third-party vendors who have a vested interest in protecting their sensitive information. Doing so will help cut down on the number of breaches being reported and improve operational efficiency across the board.

3rd party cloud apps are becoming more common in enterprise software as companies look to save money and time by outsourcing their software. However, businesses need to be aware of the cybersecurity risks of using these apps. Companies can use various best practices to protect themselves from 3rd party cloud app cyber risks.

We are excited to announce our white paper- Cybersecurity Risks of 3rd Party Cloud Apps in 2022. We have done the research so that you don’t have to, the white paper discusses the top cybersecurity threats, data breach trends in 2022, and how to stay safe. Download our white paper today to learn about 3rd party cloud apps.

 

Top 3 Cybersecurity Threats

These are the worst offenders regarding security threats in the healthcare industry.

Malicious Network Traffic- According to a 2019 analysis by Verizon, 81 percent of cybersecurity problems in healthcare are caused by privilege misuse, web apps, and other issues. Even though this form of malicious network activity may not be as well-planned as a full-scale ransomware operation, its presence in the sector should raise alarm bells for healthcare providers.

Ransomware Threat-  It prevents or restricts users from accessing computer systems by locking out or corrupting the data until a ransom is paid. Usually, the only way to unlock the system is to pay the ransom, hence the name “ransomware.”

Phishing Scams- Phishing is the process of requesting sensitive information through correspondence that claims to be from a reputable source, such as a mortgage business or official government webpage. This often comprises a personal identification number, login information, and payment information.

 

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These Are the Data Breach Trends We Expect to See In 2022

  • Increased Healthcare Breach Notification Laws- The number of healthcare breach notification laws continues to grow. As such, we expect breach notification laws to become more stringent and begin to include stiff fines.
  • The Rise of Cloud-based EHRs- As organizations begin to rely on cloud-based EHRs, we expect data breaches to increase. This is because EHRs are not designed to be safe outside of the organization’s environment. Thus, if a breach does occur, it can quickly spread to other partners and vendors.
  • Increased Focus on Software Application Security Organizations that fail to prioritize application security will pay the price. We expect to see organizations place an increased focus on third-party application security and the security within their own applications. -## TOP 10 Largest Healthcare Data Breaches of Q1 2022

Largest Healthcare Data Breaches Of Q1 2022

Provider Records Affected
North Broward Hospital District 1351431
Medical Review Institute/ America 134571
Medical Healthcare Solutions 133997
Ravkoo 105000
TTEC Healthcare 86305

As we’ve outlined, healthcare companies have seen a massive increase in data breaches. This is mainly due to SaaS providers’ weak security and inability to protect their customers’ data. Download our white paper to see the complete list of healthcare data breaches in Q1 2022.

 

SaaS Security Threats in Healthcare

The simplicity, usability, and cost advantages of SaaS (Software as a Service) solutions have encouraged healthcare firms to adopt them at a never-before-seen rate. Every healthcare company, however, needs to be aware of a few risks associated with using third-party apps.

Man In the Middle Vulnerabilities: An app and the hospital backend do not directly exchange data. Data is sent back and forth between the two parties via a communication channel. Bad actors can intercept the data at any point along their transit and potentially harm the backend.

Limited Cloud Infrastructure: Because a cloud-based architecture differs from an on-premises data center, traditional security technologies and tactics are frequently unable to defend it successfully. However, nothing you can do will make your third-party software secure if the foundational elements are not correctly set up.

Lack of Regulations: The usage of health data by third-party apps is primarily up to individual businesses rather than established regulations. Cloud service providers are not regarded as business associates under HIPAA and are not covered by HIPAA. Instead, most third-party apps are covered by the FTC Act’s protections and the agency’s authority.

Data Control Issues: A 2019 National Library of Medicine (NLM) study found that 79 percent of healthcare apps resell or share data. There is no law requiring patient consent for this downstream use, which may raise privacy-related concerns.

Inadequate Due Diligence: Organizations fail to do adequate due diligence on their third-party vendors, leaving them vulnerable to cyberattacks. The Ponemon Institute found that 87% of healthcare organizations fail to perform a third-party risk analysis.

How Can Healthcare Reduce the Risk of Cyber-attacks?

The best method to reduce threats is to prevent them. Often, businesses begin by collaborating with their internet service provider (ISP) and hiring a third-party security risk assessment team. The easiest method to lessen risks within your healthcare company is to follow these cybersecurity best practices: Patch management priorities, least access privilege policies, email, and traffic filtering, and many more. Download the white paper to learn more about how businesses can protect patient data.

Examine Third-party IT and Cybersecurity Practices: Audit all vendors’ third-party IT and cybersecurity practices, including software providers. If the vendors fail to meet security standards, terminate contracts and seek new vendors that meet standards.

 

Conclusion

With the increase in the adoption of SaaS and other cloud-based software solutions, a vast amount of sensitive data is now stored in the cloud and is thus made more vulnerable to data breaches. Cloud apps are prone to security breaches due to their shared hosting environments.

Cloud apps are the most likely to cause a data breach due to their very nature. Most of them are designed for ease of use, not security. And even those that are secure by design are often hosted on shared servers, making them a security risk.

Even if you use a secure cloud app, there is always a chance that the service provider itself may be hacked, and your data may end up in the wrong hands. Stay connected with us and keep reading our blogs to know about the latest updates about 3rd party cloud apps. In the meantime, you can download and read the white paper Cybersecurity Risks of 3rd Party Cloud Apps in 2022.