Compliance professionals will be most focused on addressing cybersecurity and regulatory compliance risks contained within their third-party relationships this year, according to the results of a new survey from Compliance Week and Dun & Bradstreet.
Out of 179 total respondents to the “State of Third-Party Risk Management in 2023” survey conducted online between October and November, 41 percent said cybersecurity was their top risk management priority. Second was regulatory compliance at 27 percent, followed by supplier risk at 15 percent; environmental, social, and governance (ESG) at 9 percent; and combating business fraud at 8 percent.
Approximately 37 percent of respondents said ESG was the least of their concerns of those five issues, followed by combating business fraud at 29 percent.
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