Do You Really Know Your Vendor?

More than half of financial services firms (51 percent) questioned by PricewaterhouseCoopers cop to not requiring that third party servicers comply with the institution's privacy policies. PwC's survey also found that only 45 percent perform due diligence of third parties that handle personal data of customers and employees. But fear not: 81 percent of financial firms consider themselves "somewhat" or "very" confident in the information security practices of their partners and suppliers.

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