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Data Protection Day 2020 – Your annual reminder of the criticality of Data Privacy & Protection in your cyber supply chain

Happy Data Protection Day! January 28th is Data Protection Day (a.k.a. Data Privacy Day), providing a focal point to the importance of respecting privacy, safeguarding data and enabling trust between data subjects and those who store, process and use their data. In support of Data Protection Day the web site www.staysafeonline.org provides a suite of…

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Using the FAIR Model to Quantify Third-Party Cyber Risk

In a mature risk management program, risk is usually defined in business terms (financial impact) and then measured against factors such as risk appetite (the defined dollar figure of risk that a company is willing to accept) and risk tolerance (the percent beyond the defined dollar amount that a company is willing to tolerate). However,…

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‘Tis the season for.… Fourth Party Risk Management

  We all know the drill. It’s time for some annual festivity, frivolity and fake fir trees. But without wanting to sound like the Grinch, there is one thing that doesn’t take a holiday. RISK! Over the last few years, growing media attention from third party data breaches, backed up by the growing regulations and…

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What the European Banking Authority Guidelines Mean for Supplier Risk Management

Using the European Banking Authority (EBA) guidelines to streamline your supplier risk management program Simply stated, financial  services faces enormous risk in an age when attack surfaces are expanding exponentially. All too often do these risks, and the regulations introduced to mitigate them, become barriers to innovation. To help pave the way towards better risk…

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Study Finds Two Thirds Of Companies Conduct Risk Assessments On Less Than Half Of Suppliers

Companies are cutting corners on Third-Party due diligence It is no secret that inherent risk assessments are crucial to Third-Party risk management (TPRM) success, but are they being conducted? During a recent IT GRC webinar delegates were surveyed on the breadth and depth of their current Third-Party risk assessment program, especially the identification of inherent…

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Poll: Over Half Of Risk Managers Say Their Vendor Risk Management Program Is Underperforming

Third Party Risk Programs Make A Good Start… But Have A Long Way To Go A recent poll of over 500 risk management professionals hosted by DVV Solutions technology partner ProcessUnity and other leading IT GRC and Vendor Risk Management (VRM) experts suggests that while many organisations are on the right path to a successful…

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An Attack on 3rd-Party Advertising Company Increased Cyber Risk of European E-Commerce Sites

You’re only as strong as your weakest link A malicious code injected to a third-party Javascript of an advertising agency targets credit card information of online shoppers at European-based e-commerce sites. Many websites leverage Javascripts to track their visitors, collect analytics, etc. so, use of a Javascript library of an advertising agency is not uncommon. External…

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Good Responses to Bad Contracts – A Shared Assessments Blog

Most third party risk managers eventually deal with bad vendor contracts. In most cases, these contracts – which lack important provisions or no longer conform to regulatory requirements or organisational guidelines – pose significant risks to the organisation. Many of these risks can be mitigated, doing so requires a well-defined process, a robust third party…

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Is Your Risk Management Program Ready for the New European Banking Authority’s Guidelines?

In June 2018, the European Banking Authority (EBA) put forth guidelines on outsourcing arrangements that highlighted the importance of risk management within financial organisations. The notice of these guidelines was announced in June 2018 and will be enforced later in 2019. On February 25th of this year, the EBA revised the guidelines to include specific…

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Third Party Risk Management (TPRM) Program Development – Pt 4 “Treating 3rd Parties as Trusted & Valued Partners”

Part 4: “Treating Third Parties as Trusted & Valued Partners” This TPRM blog series, compiled by experienced CSO, Bob Maley of NormShield Cybersecurity, has been designed to help CISOs and other risk management practitioners examine their programs from a unique perspective – one in which the objective problem your organisation is trying to solve takes center…

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