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Why fourth-party risk management is a must-have

Evolved cyber threats target not only an organization’s vendors but their vendors as well, exposing the company to a plethora of risks that they may not genuinely be aware of. These risks range from operational, legal, compliance, reputational, to financial. In order to manage these risks properly, organizations should develop an all-encompassing risk management program that includes both third and fourth-party risk management. This ensures vetting of these parties, allowing efficient risk assessment management and minimization.

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