Customer Data At Nedbank Breached By Third Party, Breaches On The Rise

South Africa-based Nedbank has disclosed that personal information of 1.7 million customers was breached by an IT services provider. This comes at the same time a new report has uncovered a sharp increase in incidents involving companies handling sensitive data for business partners and other clients. The total number of such third-party breaches hit 368 in 2019, up from 328 in 2018 and 273 in 2017 — a 35% increase in two years.


EXPERTS COMMENTS
Elad Shapira, Head of Research,  Panorays
February 14, 2020
Studies have indicated that the number of third parties that organizations are doing business with is increasing.
The recent breach at Nedbank is an excellent example of what can happen when an organization does business with what many might consider to be a “low risk” supplier. This case involved a direct marketing company that issued SMS and email marketing information on behalf of the bank. While the company did not have any links to bank accounts, it nevertheless had access to customer information suc ....
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