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> Layered vendor relationships—where prime contractors sublease work to secondary vendors, who in turn engage tertiary providers—have created opaque financial s
by duxup 1y ago
> Layered vendor relationships—where prime contractors sublease work to secondary vendors, who in turn engage tertiary providers—have created opaque financial structures that obscure accountability while enabling systematic exploitation.
It’s wild to me that big companies with all the resources would expose their IT systems in this way where they have no idea who is doing the work….
- reactordev 1y agoYou should see the financial industry…
- dkdcio 1y agobut they have bank-level encryption!
- dlcarrier 1y agoI once submitted a bug report to my bank, through 3rd party that they had hired to administer their bug bounty program. The 3rd perty determined that it was a pretty high severity issue, because the setting to require a password could be disabled without entering a password. The bank closed it as works as intended, because they had only meant for the password to be optional, out of convenience. I gues this is in line with their normal practices, as they were unable to issue me a debit card that only works with a PIN, and can only issue cards where the PIN is optional.
- hammock 1y agoOr manufacturing. Or mining/oil. (I know we are getting away from the sensitive data part of the comment though. But this is how you get children digging thru cobalt pits with their bare hands)
- koliber 1y agoIn my experience, even though there are layers of subcontractors, the individual ultimately doing the work is vetted thoroughly. Source: 1st hand experience being a provider of such services.
- newsclues 1y agoOnce your CS is offshore and you don’t control it, the vetting process is a formality and doesn’t actually have to be anything more that a compliance process. Having worked in call centres where strict compliance and security was critical, the reality is that doing things properly is expensive.
- koliber 1y agoGood background checks are expensive. I am paying for it to make sure things turn out well. I'm sure there are organizations and outsourcing companies that skip it or treat it purely as a formality. I don't do that with my clients.
- reactordev 1y agoThey want to make sure someone is going to do it, do it right, and make everyone looks good so they can continue fleecing.
- ActionHank 1y agoLiterally any industry. I only have recruiters from companies that do this sort of work reaching out to me on LinkedIn. Whole companies where you are hired based on resume keywords.
- reactordev 1y agoYuuup, there’s at least 4 layers there…
- deleted 1y ago[deleted]
- pjmorris 1y agoWhat's funny to me is that, not only is this also how the financial industry is structured, but that a) this is the currently fashionable means of reducing risk and b) it is seen as a feature not a bug. Citation: Any book about the 2008 financial crisis, or the 1998 crisis, or the 1987 crisis, e.g. [0] 'The Quants', Scott Patterson [1] 'When Genius Failed', Lowenstein. [2] 'Demon of Our Own Design', Richard Bookstaber.
- b8 1y agoThis reminds me of the classic Onion video: https://www.youtube.com/watch?v=rYaZ57Bn4pQ https://www.youtube.com/watch?v=rYaZ57Bn4pQ