What actually happens when a company examines third-party risk

Cybersecurity is U.S. bank regulator's top priority

“One of the most critical business dynamics that’s taken place over the past five years is businesses holding each other accountable for cybersecurity,” said Jacob Olcott, vice president at BitSight. “Market participants are holding each other accountable but, my god, have you ever tried to figure out a questionnaire? It’s completely subjective, so in an ideal world it would be a combination of security ratings plus the results of assessments or documentation.”