Supply chain hacks and vendor management for financial institutions

Earlier this summer, cybercriminals launched a single attack that negatively impacted well over 1,000 businesses. From Quartz:

“It all started with a Miami, Florida-based IT services company called Kaseya, which provides security software for scores of large-scale cybersecurity contractors, which in turn sell their security services to thousands of businesses worldwide. After hackers breached Kaseya’s servers on July 2, they were able to quickly leap into at least 40 cybersecurity contractors’ systems. From there, they infected hundreds of businesses with ransomware over the weekend.”

This type of attack is known as a supply chain hack, and it represents a growing threat to U.S businesses—including financial institutions! In this blog post, we’ll take a deep dive into supply chain hacks and the heightened danger they pose. We’ll also give you tips for minimizing your institution’s vulnerability to this threat.


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