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Access "Third-party risk management: Horror stories? You are not alone"

MacDonnell Ulsch, Contributor Published: 18 Jul 2013

Cyberattacks leap from the headlines almost daily, yet senior management at some companies still believe their organizations are not potential targets: “Nobody knows who we are, why would anyone want to attack us?” One consistent breach finding may get their attention: Almost without exception, a third-party vendor or affiliate is involved. It may be the client, or it may be the origination point of the breach. The third party is often a quasi-insider, enjoying some degree of the trust afforded employees. Based on a relationship’s longevity and personal interactions, third-party trust levels sometimes meet or exceed the level of insider trust. Unfortunately, the conveyance of trust does not always end well. This is why third-party management and service-level agreements (SLA) are so critical in the management of risk. SLAs are negotiable instruments that reflect the company’s appetite or tolerance for risk; its size and complexity, geographic distribution, type of information managed, as well as the ability to effectively monitor the third-party management ... Access >>>

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