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Refinitiv: Survey exposes severe lack of due diligence on business supply chains | Fintech InShorts: Latest fintech news, analysis by experts

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Refinitiv: Survey exposes severe lack of due diligence on business supply chains

By Laura M

May 19, 2020

Refinitiv: Survey exposes severe lack of due diligence on business supply chains

Refinitiv one of the world’s largest providers of financial markets data and infrastructure
The report highlights the pressures that organizations face when managing risk associated with third party relationships
The survey found that on average, 43% of third parties do not receive due diligence checks
Increase of 6% compared to the responses found in Refinitiv’s 2016 Third-Party Risk Survey
COVID-19 set to have a substantial impact on the risk landscape, particularly in terms of supply chain and third-party risk
The survey also found that 63% of respondents agree that the current economic climate encouraging organizations to take regulatory risks in order to win new business

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