Operational impacts top list of vendor risk worries, study finds

Operational risk is the most common concern when it comes to third-party risk management (TPRM), according to a recent EY survey of 500 executives at major companies.

According to the study, today’s TPRM is “is fundamentally misaligned with this new risk environment.” Financial, cybersecurity, privacy, and regulatory risks rounded out the top five concerns about third parties that executives cited.

The data reflect growing corporate worries about the consequences of hiring subcontractors with negligent security or privacy practices. These worries have been heightened in the wake of many high-profile cyberattacks that involved supply chain or third-party compromises. 

Read more at Cybersecurity Dive