Threat Intelligence in Third-Party Risk Management Programs
Explore how fusing threat intelligence with TPRM enables you to manage supply chain risk proactively.
These days, it should be considered that conventional methods for managing third-party risk management (TPRM) programs aren’t enough to effectively manage risk. The technology supply chain continues to expand organizations procure from more and more cloud service providers, particularly SaaS companies, and others that operate in a cloud-first environment, growing the threat profile and the associated risks. Adding real-time threat intelligence to your TPRM strategy helps anticipate, detect, and respond to potential security issues before they become major problems.
With threat intelligence, businesses can automate risk evaluations, stay ahead of emerging threats, and strengthen their overall security posture. This proactive approach minimizes vulnerabilities and builds stronger relationships with vendors, ensuring your technology supply chain stays secure and resilient even as the threat landscape changes.
Being up-to-date with the latest threats is essential for effective third-party risk management. Traditional methods often provide just a one-time snapshot, leaving organizations exposed to risks that change over time. In contrast, real-time threat intelligence provides a continually updated view of vendor risk, enabling your organization to:
Proactively address vulnerabilities in vendor systems.
Monitor for data breaches or exposures within your vendor network.
Detect early signs of supply chain attacks by malicious actors.
These capabilities allow organizations to manage vendor risks holistically, complying with regulations while protecting themselves from actual cyber threats.
How It Works: Integrating Threat Intelligence into TPRM
1. Continuous Monitoring and Dynamic Risk Updates
One of the most significant advantages of incorporating threat intelligence into TPRM is the ability to continuously monitor third-party vendors. Cyber threats evolve over time, and static assessments conducted annually or bi-annually might leave important gaps. By continuously tracking the security posture of third parties, threat intelligence can provide real-time updates on:
Data breaches or security incidents involving your vendors.
Potential vulnerabilities in the wild that may impact vendor systems depending on their software architecture.
Newly identified attack vectors that could pose threats to your technology supply chain.
This level of insight allows organizations to respond quickly to emerging risks, preventing minor security gaps from becoming significant incidents.
2. Identifying Hidden Threats and Vulnerabilities
Sometimes third-party risks are hidden. Vendors may appear secure but have unseen vulnerabilities, like outdated software or weak configurations. Additionally, malicious actors target the weakest link in a technology supply chain, often aiming for vendors. Threat intelligence helps identify:
Common software vulnerabilities affecting multiple vendors.
Discussions on the normal internet that users access daily and the dark web, where attackers plan industry-specific threats or cyberattacks.
Zero-day vulnerabilities that could affect vendors' systems.
With this data, your organization can collaborate with vendors to address issues before they escalate into significant risks.
3. Automation of Threat Detection and Incident Response
Modern threat intelligence platforms leverage on automation to enhance TPRM. Automated systems monitor threat feeds, analyze risk data in real-time, and trigger alerts for suspicious activities or newly detected vulnerabilities. Automation accelerates the detection of new threats, reduces manual workloads, and ensures immediate updates to risk assessments.. Automated features include:
Real-time updates to vendor risk scores based on new threat intelligence.
Instant alerts for security incidents or new vulnerabilities affecting third parties.
Pre-defined response protocols to streamline decision-making during incidents.
This automation ensures that your organization is always prepared to react quickly to third-party risks as they arise.
4. Dark Web Monitoring for Vendor Risks
Threat intelligence extends it’s reach beyond basic monitoring to scan the deep and dark web for signs that your vendors may be compromised. Cybercriminals frequently use the dark web to sell stolen credentials, discuss potential attacks, or trade sensitive information. By integrating dark web monitoring into TPRM, organizations can:
Identify compromised vendor accounts or credentials.
Track stolen data that could expose your organization to risks.
Detect discussions about targeting specific vendors or supply chains.
This extra layer of surveillance ensures that your TPRM program is equipped to detect risks that traditional assessments might miss.
5. Post-Incident Threat Analysis
After a cybersecurity breach involving a third party, threat intelligence supports post-incident analysis by identifying the attackers involved, their methods, and any lingering threats. This analysis aids in incident response and provides valuable insights for future risk management strategies. By understanding the full scope of the incident, organizations can:
Improve vendor security assessments by identifying similar risks in other third parties.
Develop stronger defenses against repeat attacks or related threats.
Share intelligence with other vendors to ensure ecosystem-wide security improvements.
Leveraging Platforms for Advanced TPRM
Organizations like ThreatNG are at the forefront of integrating advanced threat intelligence into TPRM. Such platforms provide continuous, real-time monitoring and deliver actionable intelligence to help businesses manage vendor risks more effectively.
External Attack Surface Management (EASM): EASM solution identifies and monitors the external attack surfaces of third-party vendors. This includes tracking digital assets like cloud services, internet-facing infrastructure, and social media accounts. EASM provides a comprehensive overview of a vendor’s security posture, helping you identify weak points that could be exploited by attackers.
Digital Risk Protection (DRP): DRP capabilities focus on identifying digital risks across various environments, including the deep and dark web. By scanning for stolen credentials, leaked data, or signs of compromise, DRP allows organizations to detect risks early and address them before they escalate into full-scale breaches.
Automated Threat Detection: By automatically adjusting vendor risk profiles based on new intelligence, platforms enable faster responses to emerging risks. This automation enables businesses to respond swiftly to changes in vendor risk without over-reliance on manual efforts.
Post-Incident Analysis: In the event of a third-party-related security incident, cybersecurity platforms typically provide deep analysis to identify the methods used in the attack, the actors responsible, and any ongoing risks. This post-incident intelligence enables organizations to respond effectively, assess vulnerabilities, and gain insights for improving future vendor risk management strategies. By learning from the incident, companies can strengthen their security posture and better protect their supply chains against similar threats in the future.
The Future of TPRM with Threat Intelligence
Integrating threat intelligence into your TPRM program is a critical step toward taking a proactive approach in safeguarding your organization against the evolving cyber threat landscape. As third-party risks grow more complex, real-time, actionable data ensures that vulnerabilities are addressed quickly and effectively. Real-time, actionable intelligence allows organizations to detect and mitigate risks before they become serious problems, ensuring that your supply chain remains secure.
Threat intelligence platforms empower businesses by:
Delivering continuous, real-time insights into vendor risks.
Automating responses to evolving cyber threats.
Enhancing collaboration between organizations and their vendors to address potential vulnerabilities early.
By adopting threat intelligence, your organization can build a more resilient TPRM program that safeguards your data and helps foster stronger, more secure relationships with your vendors.