When you work with third parties, their risk is your risk. Common risks associated with vendors include everything from compliance risk to operational risk to financial and reputational loss.

According to Ponemon’s 2018 Cost of a Data Breach report, third-party breaches cost more than in-house breaches, at $13 per compromised record.

However, data breaches arising from vendor errors are common; 59% of respondents to Ponemon’s 2018 Data Risk in the Third-Party Ecosystem report reported a third…