Every business today must be cognizant of its security posture and that of its supply chain. A large enterprise relies on an average of 173 third-party vendors to operate efficiently, according to areport, for resources such as communication platforms and productivity software.
The impact of these business payment attacks can be severe, leading to financial losses, ongoing litigation, reputational damage and even loss of market share. However, many organizations still lack robust programs to detect and prevent these issues. To mitigate risk, organizations need to gain greater visibility into their supply chain payments, implement strong internal controls, conduct thorough due diligence on suppliers and continuously monitor for suspicious activities.
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