Third-party risk management is one of the leading areas of compliance risk. Nearly two-thirds of senior compliance executives believe third parties present their greatest risk, regardless of industry, company size or compliance maturity.
Compliance and Third-Party Risk Management
To gauge the level of risk and uncover potential gaps, compliance and privacy leaders should collaborate to consider how often they are monitoring third parties, what intelligence they are gathering with and about their partners and vendors, and whether their risk management practices have been diminished due to cost and resource constraints.

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