Strategies for Mitigating Supply Chain Cybersecurity Risks

A cybersecurity program should be well rounded and needs strong components, one of which is a Third-Party Vendor Cyber Risk Assessment program. I believe there will be regulatory push for this moving forward so adopting this practice is beneficial sooner rather than later. Organizations within critical infrastructure—such as energy, healthcare, finance, and transportation—are increasingly vulnerable to cyber threats due to the interconnected nature of modern supply chains. Third-party vendors often have direct access to sensitive data and critical systems, making them a significant cybersecurity risk. A single breach through a compromised vendor can lead to operational disruptions, data theft, regulatory penalties, and even national security threats. To mitigate these risks, organizations must implement rigorous third-party vendor cyber risk assessments as part of their cybersecurity strategy. These assessments help ensure compliance with regulatory frameworks (such as NIST, ISO 27001, CIS and CISA guidelines), protect sensitive data, and strengthen operational resilience against supply chain attacks. Key components of a robust vendor risk assessment include: Vendor Risk Profiling: Identifying vendors with access to critical systems. Security Policy & Compliance Review: Ensuring adherence to cybersecurity standards. Access Controls & Data Protection: Enforcing least privilege access and encryption. Incident Response & Recovery Readiness: Evaluating vendors’ breach response capabilities. Continuous Monitoring & Penetration Testing: Regularly assessing vulnerabilities and security posture. Contractual Security Requirements: Embedding cybersecurity obligations in vendor agreements. To strengthen third-party risk management, organizations should adopt a risk-based approach, enforce Zero Trust principles, require real-time security monitoring, and conduct regular cybersecurity exercises. Cyber threats are escalating, and organizations can no longer afford to overlook vendor risks. A proactive cybersecurity strategy that includes thorough third-party risk assessments is essential for safeguarding critical infrastructure, ensuring regulatory compliance, and maintaining national security.

The OWASP® Foundation Threat and Safeguard Matrix (TaSM) is designed to provide a structured, action-oriented approach to cybersecurity planning. This work on the OWASP website by Ross Young explains how to use the OWASP TaSM and as it relates to GenAI risks: https://lnkd.in/g3ZRypWw These new risks require organizations to think beyond traditional cybersecurity threats and focus on new vulnerabilities specific to AI systems. * * * How to use the TaSM in general: 1) Identify Major Threats - Begin by listing your organization’s key risks. Include common threats like web application attacks, phishing, third-party data breaches, supply chain attacks, and DoS attacks and unique threats, such as insider risks or fraud. - Use frameworks like STRIDE-LM or NIST 800-30 to explore detailed scenarios. 2) Map Threats to NIST Cybersecurity Functions Align each threat with the NIST functions: Identify, Protect, Detect, Respond, and Recover. 3) Define Safeguards Mitigate threats by implementing safeguards in 3 areas: - People: Training and awareness programs. - Processes: Policies and operational procedures. - Technology: Tools like firewalls, encryption, and antivirus. 4) Add Metrics to Track Progress - Attach measurable goals to safeguards. - Summarize metrics into a report for leadership. Include KPIs to show successes, challenges, and next steps. 5) Monitor and Adjust Regularly review metrics, identify gaps, and adjust strategies. Use trends to prioritize improvements and investments. 6) Communicate Results Present a concise summary of progress, gaps, and actionable next steps to leadership, ensuring alignment with organizational goals. * * * The TaSM can be expanded for Risk Committees by adding a column to list each department’s top 3-5 threats. This allows the committee to evaluate risks across the company and ensure they are mitigated in a collaborative way. E.g., Cyber can work with HR to train employees and with Legal to ensure compliance when addressing phishing attacks that harm the brand. * * * How the TaSM connects to GenAI risks: The TaSM can be used to address AI-related risks by systematically mapping specific GenAI threats - such as sensitive data leaks, malicious AI supply chains, hallucinated promises, data overexposure, AI misuse, unethical recommendations, and bias-fueled liability - to appropriate safeguards. Focus on the top 3-4 AI threats most critical to your business and use the TaSM to outline safeguards for these high-priority risks, e.g.: - Identify: Audit systems and data usage to understand vulnerabilities. - Protect: Enforce policies, restrict access, and train employees on safe AI usage. - Detect: Monitor for unauthorized data uploads or unusual AI behavior. - Respond: Define incident response plans for managing AI-related breaches or misuse. - Recover: Develop plans to retrain models, address bias, or mitigate legal fallout.