Let us assist you with Third Party Risk program – “According to the research, on average U.S. companies pay $7,350,000 per breach in fines, remediation costs and loss of customers. A whopping 57% of respondents do not have an inventory of all the third parties with which they share sensitive information. The same percentage was unsure if third parties’ policies would prevent a data breach.”
TPRM
Identifying and defining the risks represented by your third parties is the first step in your third party risk management program. This process should involve identifying the scope of your risk management program including the risks you should be monitoring and the types of third party you should be assessing.
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