If sanctions enforcement is top of mind for the Department of Justice (DOJ) in the wake of Russia’s invasion of Ukraine, third-party risk management (TPRM) must be at the forefront of businesses’ priority lists.
After all, a company is responsible for the actions of its supplier on its behalf. And when those suppliers are using suppliers of their own to provide the services you’ve engaged them for, the risk landscape grows exponentially. Prudent businesses are determining what lines need to be drawn to protect themselves and preparing to exit relationships that pose more risk than they can tolerate.
