An ecosystem approach to cyber resilience
A business is known by the companies it keeps
Published by Mastercard, August 2024
It is a scenario eerily reminiscent of recent times. When one body is put at risk, so is everybody in contact with it.
Being part of a resilient community can reduce that risk. In epidemiology, it is called “herd immunity.” In cybersecurity, third-party risk management (TPRM) is supposed to provide it. In the same way a disease peters out when it cannot contaminate enough people, a breach cannot spread when its surroundings are secure.
But the “me versus them” mentality of standard TPRM approaches makes that resilience difficult to achieve. Third parties tend to be an afterthought in cybersecurity; fourth parties and beyond tend to be ignored entirely.
Businesses often assume that third-party risk can be managed based on the amount of data shared or its sensitivity. That is not wholly misled, but it does ignore that a breach affecting some innocuous data can rapidly infect other areas. An ecosystem approach solves that by reorienting cybersecurity, and by extension TPRM, around a collective “us.”
