While over two-thirds of security professionals reported conducting internal data sharing with more than 25 third-party partners and one-fourth shared such data with over a hundred partners, only 5% noted completely trusting their data partners, according to SC Media.
Moreover, fewer than a quarter of respondents noted less than 75% of their partners were trustworthy enough to have their corporate information, a report from CyberRisk Alliance showed. Organizations' reduced trust to third parties with their data comes amid the increasingly serious impact of third-party breaches, with 45% reporting customer service issues following such intrusions. Third-party breaches have also prompted over six figures in losses for a third of security professionals, as well as losses exceeding $1 million among 8% of the respondents. Data losses were attributed by executives to third parties that were not incentivized to adequately protect entrusted data.
"Mostly shadow IT has caused our data to be exfiltrated by employees entering data into third-party software that has no legally binding obligation to keep this data private," said a respondent.
