It is hard for businesses these days to avoid utilizing third-party vendors. They are a necessary component of any organization’s operations. Vendors are an efficient method of outsourcing services that would be too expensive or specialized for the business to carry out itself. Third party vendors, however, also bring forward a slew of risks with the data that they store and process for their services. And just because they are third parties does not make them any less susceptible to data breaches. In fact, vendors can pose the weakest link in protecting sensitive data, because they are often less technologically advanced, have fewer incentives to protect client data, and businesses have limited visibly to ensure they meet their safety standards. It is the responsibility of organizations to be proactive in setting the standards for the operations of their third-party vendors in order to preserve their reputation. This seminar will provide key insights for attorneys looking to understand the vulnerabilities associated with third-party vendors and how to assist their clients in staying ahead of the threat.

In this seminar, our expert panelists begin by introducing the cyber security landscape and the risks that many companies face when it comes to combatting data breaches. They underscore the threat third-party vendors can pose on the data they collect and process. Our panelists then go on to outline the various steps organizations can take to better protect their data when it goes into the hands of vendors. They emphasize the importance of managing the vendors and regularly conducting risk assessments. The panelists conclude by reviewing the current legal landscape and discussing a recent case that involved a vendor data breach to better understand how to implement best practices.