Security News > 2020 > April > Third-party compliance risk could become a bigger problem

Since the onset of COVID-19, more than half of legal and compliance leaders believe that cybersecurity and data breach is the most-increased third-party risk their organizations face, according to Gartner.

Which third-party compliance risk has increased the most at your organization as a result of COVID-19?

"Legal and compliance leaders need to act now to mitigate third-party risk while still enabling their supply chain partners to flex to the current pressures on the system," said Ms. Balasubramanian.

"This will likely mean managing the contractual risks and opportunities of current relationships, mitigating emerging issues, and streamlining due diligence for new third-parties. Legal and compliance leaders will also be looking at other ways to reduce the compliance burden on third parties."

"The most progressive companies have approached this crisis as an opportunity to clarify and streamline compliance obligations, strengthen current relationships, and focus their risk management efforts on the most critical, urgent risks."

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