The Cost of Third-Party Risk
to Financial Institutions
While it is the cybersecurity events that have garnered the most headlines, the fact is that other risks have increased as well, affecting the financial services industry.
This whitepaper will examine the range of risks banks face from their third-party relationships, and what steps can be taken to manage them more effectively. For example : Corruption can be a major problem, especially in emerging markets, or a vendor may hold information that is not regulated but could still cause damage to the financial institution if it is leaked or otherwise compromised.
Your 2022 TPRM program needs to take into account a variety of risks including:
Business continuity, And more