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What is “Third-Party” in Third-Party Risk Management?

Businesses rely on Third-Parties to deliver a service or product to their customers. In a tightly-linked digital world, Third-Parties are indispensable and inherently risky elements of a digital ecosystem. Before going deep into the risks they pose to the business, we need to understand the definition and be able to identify the ones critical to…

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Dynamic Due Diligence – The Shared Assessments TPRM Framework Module 6

While at first glance the topic of due diligence may appear to be a stodgy one, the reality of a rapidly changing risk landscape and the evolution of due diligence techniques suggests that the opposite is true. The latest section of the Shared Assessments Third Party Risk Management (TPRM) Framework has just been released, providing…

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Monitoring Third-Parties Continuously: A NIST Perspective

NIST released two industry standards to drive security requirements around supply-chain (a.k.a Third-Party) management. Here’s an overview of the NIST guidelines regarding continuous Third-Party risk monitoring.   NIST 800-53 NIST 800-53 Security and Privacy Controls for Federal Information Systems and Organisations sets out guidelines and controls for protecting the government’s sensitive information as well as…

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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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DVV Solutions NormShield Managed Services Drives Scalability in Cyber Risk Ratings & TPRM Programs

New NormShield Managed Services and Consultancy helps customers to develop more robust and resilient Third Party assurance programs with scalable integration of NormShield Cyber Risk Ratings.   DVV Solutions has announced the launch of its NormShield Managed Services – a range of managed and consultancy services to aid companies looking to implement, develop and optimise…

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What the European Banking Authority (EBA) 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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Why Are Hackers Targeting Law Firms?

Sean O’Brien, Director DVV Solutions looks at why Law firms are so attractive and often the first port of call in a cyber supply chain attack. In simple terms, because Law firms typically hold valuable information, though there is a little more to it than that…… When a Hacker or a Nation State Threat Actor…

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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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