Due Diligence

Introduction In today’s interconnected business landscape, organizations rely heavily on third-party vendors to provide critical services and support. However, this increased reliance on vendors also introduces significant security risks. According to a recent study, 61% of organizations have experienced a data breach caused by a third-party vendor (1). This alarming statistic underscores the importance of conducting thorough Vendor Due Diligence (VDD) to mitigate these risks. Understanding Vendor Due Diligence Vendor Due Diligence is a comprehensive process of evaluating and assessing the risks associated with engaging a third-party vendor. It involves scrutinizing the vendor’s business practices, financial health, and security controls to ensure they align with your organization’s risk tolerance and security requirements. Effective VDD can help prevent security breaches, protect sensitive data, and maintain regulatory compliance. ...

The Evolution of Human Rights Due Diligence: A Developmental History Human rights due diligence has become a crucial aspect of business operations worldwide. The concept, which involves identifying and mitigating potential human rights risks, has evolved significantly over the years. In this article, we will delve into the developmental history of human rights due diligence, highlighting key milestones, challenges, and best practices. The Early Days of Human Rights Due Diligence (1970s-1990s) The concept of human rights due diligence began to take shape in the 1970s, when multinational corporations faced increasing scrutiny for their operations in developing countries. The United Nations (UN) played a pivotal role in promoting human rights, with the adoption of the Universal Declaration of Human Rights in 1948. However, it wasn’t until the 1990s that human rights due diligence started to gain traction. ...