Labcorp to overhaul data security practices, pay $2.3 million fine for cybersecurity failings
Labcorp's $2.3M settlement and mandated vendor-security overhaul sets a precedent European enterprises should study — especially as NIS2 and DORA impose similar third-party risk obligations.
Summary written by editorial AI · Source link below
Security changes include creating an incident response plan for vendor security failings, limiting how much data Labcorp shares with vendors and building an expansive risk management team charged with tracking vendors’ compliance with data security practices.
Editorial Analysis
Regulators are increasingly holding organisations accountable for their vendors' security posture; this settlement previews the enforcement model NIS2 and DORA will bring to Europe.
Review and strengthen your third-party risk management programme, including contractual security requirements, data minimisation, and vendor incident response coverage.
A major healthcare firm was fined $2.3M for failing to manage vendor cybersecurity — a warning as European regulations impose similar obligations.
Forward-looking interpretation drafted by editorial AI under human review — not a reproduction of the source. See methodology.
External link — opens at The Record in a new tab.
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