Increasingly prevalent cybersecurity risks have prompted Bitsight and Moody's Corp. to collaborate and develop the new Implied Cyber Threat service aimed at strengthening cyber risk management efforts, SiliconAngle reports.
Both Bitsight's cyber risk analytics engine and Moody's Orbis company database have been integrated into Implied Cyber Threat to facilitate more robust cyber risk quantification while providing 25 times higher coverage than the next most extensive cyber risk management tool. Very high-risk third-party organizations were found by ICT to have nearly 11-fold higher odds of being impacted by a security incident than very low-risk companies, said the firms.
"Cyberattacks and ransomware cost companies billions in losses every year, jeopardizing global business stability and making cyber risk management a top priority for business leaders. The ICT will help our customers assess their third-party cyber risks. The scale of the ICT is a major advancement that will help provide actionable cyber risk insight into extended business ecosystems," said Moody's Managing Director Matt McDonald.
