SecurityScorecard is proud to announce that it has achieved the Ready Designation under the Federal Risk and Authorization Management Program (FedRAMP). This designation demonstrates SecurityScorecard’s commitment to the rigorous security standards required by the U.S. government for cloud service providers, and it will enable the company to meet growing demand from U.S. federal agencies for its Third-Party Cyber Risk Management Platform. U.S. government agencies will be able to leverage a standardized approach for measuring government cybersecurity while also reducing their exposure to cyber risk from the most secure cloud product available in the market.
Enhancing Public Trust Through Cyber Resilience
To foster trust and transparency in society, the public needs to have faith that critical infrastructure and government agencies will continue to function smoothly. But according to the World Economic Forum, only 19% of cyber leaders feel confident that their organizations are cyber resilient. The pandemic has accelerated the adoption of cloud solutions in the public sector. And while governments and private sector organizations are equally vulnerable to breaches in their cloud environments, incidents in the public sector may have a greater impact because of the potential to erode public trust.
Earlier this year, SecurityScorecard released a report that explored the rising number of cyberattacks on critical infrastructure, and it found that trust in critical infrastructure is getting worse, not better. Further analysis found that 66% of organizations in the water sector had at least one high severity CVE and that 70% of organizations in the healthcare sector had at least one high severity CVE.
FedRAMP: A Gold Standard for Cybersecurity
At the end of 2022, the U.S. Congress codified FedRAMP as the authoritative standard governing the deployment of cloud computing products for the U.S. federal government. The impact of an initial FedRAMP authorization goes well beyond U.S. federal agencies; FedRAMP has become the gold standard for cybersecurity worldwide, and a marker of cybersecurity maturity in the private sector as well. This new designation will help provide a standardized approach that sector risk management agencies (i.e., U.S. federal agencies with oversight of critical infrastructure sectors) can enhance collaboration with critical infrastructure and quantify the progress toward mitigating cyber risks.
Safeguarding the Supply Chain
With an expanding attack surface and increasingly sophisticated adversaries, government agencies need a secure and trusted way to see clearly what threats are out there. Our recent report with the Cyentia Institute found that 98% of all organizations have at least one vendor that’s experienced a breach in the last two years (a fact that the SEC also cited in its recent cyber disclosure requirements). To help mitigate third-party risk, SecurityScorecard delivers standardized A to F Security Ratings that measure and validate the security posture of organizations and their supply chains in real time, continuously, and non-intrusively.
SecurityScorecard’s core ratings platform, including Attack Surface Intelligence, is now approved with an initial “Ready” status for FedRAMP, joining an exclusive group of less than 450 cloud-based products from leading companies who are trusted to do business with the U.S. federal government. SecurityScorecard combines national security-grade threat intelligence, automatic third-party vendor detection, and the world’s most complete Security Ratings Platform to mitigate supply chain attacks.
Staying Ahead of Public Sector Threats
Achieving this FedRAMP designation builds on SecurityScorecard’s work in the public sector, particularly our partnership with the Transportation Security Administration’s (TSA) Surface Operations Cybersecurity Assurance Division to provide cyber vulnerability monitoring, security ratings, and threat intelligence for TSA’s partners, which comprise national critical infrastructure providers.
Additionally, SecurityScorecard is listed as a free CISA cyber tool, which includes other free capabilities to enhance the cyber resilience of critical infrastructure sectors. We’ve also partnered with CISA’s Joint Cyber Defense Collaborative (JCDC) to share cyber threat information to defend public and private critical infrastructure. Our Attack Surface Intelligence has received approval from the Department of Homeland Security (DHS) Continuous Diagnostics and Mitigation (CDM) Program approved products list (APL) to identify, contextualize, and prioritize critical threats.
Key benefits of the SecurityScorecard Platform for federal agencies:
A fully FedRAMP-authorized solution from SecurityScorecard will provide U.S. federal agencies with real-time monitoring of their supply chain and where applicable, allow for visibility into critical infrastructure and/or their regulated entities. As Sector Risk Management Agencies seek to monitor and measure the cyber risks in critical infrastructure, the availability of a FedRAMP-ready solution will provide agencies with an out-of-the-box capability to measure and communicate how risk is being managed. Other benefits of our solution include:
- Operationalizing third-party cyber risk management: Out-of-the-box compatibility agencies can use to operationalize third-party cyber risk management across critical infrastructure.
- Efficient risk prioritization: Federal agencies can prioritize risks on a large scale, providing actionable insights and enhancing operational awareness.
- Enhanced collaboration: The platform promotes operational collaboration, facilitating the delivery of insights and intelligence and the ability for agencies to share critical risk artifacts in a secure environment.
- Dynamic risk insights: Actionable insights into risk associated with key sectors, empowering agencies to respond proactively.
- Improved threat awareness: Federal agencies can drive awareness of threat exposure with operational stakeholders and partners.
- Streamlined collaboration: Improve collaboration across the entire federal cybersecurity ecosystem.
SecurityScorecard’s mission is to empower organizations with the tools they need to stay ahead of cyber threats, increase our collective cyber resilience, and make the world a safer place.