3rd Party Risk Management , Fraud Management & Cybercrime , Fraud Risk Management

Tools for Mitigating Third-Party Risks

EY's Arpinder Singh on Addressing Supply Chain Risks
Arpinder Singh of Ernst & Young

To help mitigate supply chain risks, organizations should leverage web scraping tools, social media analytics tools and robotics to verify third-party providers, says Arpinder Singh of Ernst & Young.

See Also: OnDemand | Combat Threats, Build Resilience and Comply Efficiently: India’s Mantra to a Secure Cyber Future

“It is important to have both automation and manual practices in place to ensure a thorough background check of third parties, Singh says. “If you identify some high-risk third parties, you need to do a site visit; you need to see their facilities as the current databases are not very comprehensive.”

In a video interview with Information Security Media Group, Singh discusses:

  • Third-party risk management processes that should be automated;
  • Essential components of a background check program;
  • Technologies companies are deploying to cope with effects of the pandemic.

Singh is partner and head - India and emerging markets - at EY Forensic & Integrity Services. He has 25 years of experience in multijurisdictional investigations, forensic accounting and dispute advisory services. His key areas of specialization include anti-bribery and anti-corruption, fraud risk management, regulatory compliance, anti-money laundering, corporate governance and training.

About the Author

Suparna Goswami

Suparna Goswami

Associate Editor, ISMG

Goswami has more than 10 years of experience in the field of journalism. She has covered a variety of beats including global macro economy, fintech, startups and other business trends. Before joining ISMG, she contributed for Forbes Asia, where she wrote about the Indian startup ecosystem. She has also worked with UK-based International Finance Magazine and leading Indian newspapers, such as DNA and Times of India.

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