Cyber Third-Party Risk Management: A Comparison of Non-Intrusive Risk Scoring Reports

Authors

Kevin Matthe Caramancion, University at Albany, State University of New York
Omer F. Keskin, University at Albany, State University of New York
Irem Tatar, University at Albany, State University of New York
Owais Raza, University at Albany, State University of New York
Unal Tatar, University at Albany, State University of New York

Document Type

Article

Publication Date

5-13-2021

DOI

https://doi.org/10.3390/electronics10101168

Abstract

Cybersecurity is a concern for organizations in this era. However, strengthening the security of an organization’s internal network may not be sufficient since modern organizations depend on third parties, and these dependencies may open new attack paths to cybercriminals. Cyber Third-Party Risk Management (C-TPRM) is a relatively new concept in the business world. All vendors or partners possess a potential security vulnerability and threat. Even if an organization has the best cybersecurity practice, its data, customers, and reputation may be at risk because of a third party. Organizations seek effective and efficient methods to assess their partners’ cybersecurity risks. In addition to intrusive methods to assess an organization’s cybersecurity risks, such as penetration testing, non-intrusive methods are emerging to conduct C-TPRM more easily by synthesizing the publicly available information without requiring any involvement of the subject organization. In this study, the existing methods for C-TPRM built by different companies are presented and compared to discover the commonly used indicators and criteria for the assessments. Additionally, the results of different methods assessing the cybersecurity risks of a specific organization were compared to examine reliability and consistency. The results showed that even if there is a similarity among the results, the provided security scores do not entirely converge.

Comments

This is the Publisher’s PDF of the following article made available by Electronics: Keskin, O.F.; Caramancion, K.M.; Tatar, I.; Raza, O.; Tatar, U. Cyber Third-Party Risk Management: A Comparison of Non-Intrusive Risk Scoring Reports. Electronics 2021, 10, 1168. https://doi.org/10.3390/electronics10101168

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Recommended Citation

Caramancion, Kevin Matthe; Keskin, Omer F.; Tatar, Irem; Raza, Owais; and Tatar, Unal, "Cyber Third-Party Risk Management: A Comparison of Non-Intrusive Risk Scoring Reports" (2021). Emergency Preparedness, Homeland Security, and Cybersecurity Faculty Scholarship. 2.
https://scholarsarchive.library.albany.edu/ehc_fac_scholar/2