Cyber attacks are on the rise and show no signs of slowing down. As businesses expand and grow, they must be prepared to evaluate potential vulnerabilities and risks to ensure the security of their assets and data. This process is called due diligence. In the security world, this means taking the time to thoroughly research and evaluate the partners and third-party vendors and ensuring that they comply with the security standards of an organization.
In general, due diligence refers to exercising the level of care that a responsible person or company would be expected to exercise in similar situations. In the context of cybersecurity it is a reference to a firm’s ongoing efforts in maintaining their security and prevent data breaches. This includes documenting security policies and implementing security measures as well as constantly monitoring residual risks. It also involves staying up-to-date with industry and legal standards like GDPR, HIPAA and ISO 27001 and ensuring that the company’s practices comply with these standards.
Due diligence also requires that organizations be aware of and mitigate the risk of third parties in their supply chain. This can be achieved by creating a system for vendor management that includes monitoring and assessments of risks posed by third parties. It is essential to establish high expectations of vendors to ensure they comply with https://towardsbillionaire.com/the-relevance-of-facilitation-software-for-board-of-directors/ policies and standards.
Furthermore, it is essential to monitor the dark web as it is a private online community where cybercriminals can use to exchange data and attack methods. Monitoring the dark web can help organizations improve their plans for responding to incidents and make them more resistant to cyberattacks.