Third-party cyber risk is one of the fastest growing security sectors.

This past May, BlueVoyant commissioned its second annual survey undertaken by independent research organization, Opinion Matters. Twelve-hundred CIOs, CISOs, and CPOs (Chief Procurement Officers) responsible for supply chain and cyber risk management were surveyed from companies with 1,000 or more employees across a range of industries.

Of the 300 UK respondents, 97% said they have suffered a cybersecurity breach because of weaknesses in their supply chain/third-party vendors in the past 12 months.

Other key findings:

• The UK was surpassed only by European respondents in Germany and The Netherlands (grouped together), where 99% reported supply chain-related cybersecurity breaches
• Only 27% of UK respondents consider third-party cyber risk a key priority for their firm, compared to a 42% global average
• The average number of breaches experienced in the last 12 months grew moderately since last year (from 2.6 to 3.5), a 25.8% year-over-year increase

Download the full report to understand the full scope of third-party supply chain cyber risk.