When Vendor Risk Becomes Your FI’s Risk: Lessons from the Allianz Life Data Breach

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This article highlights how vendor security vulnerabilities directly translate into institutional risk, as attackers, in the Allianz Life data breach, bypassed internal defenses by targeting a third-party CRM system through social engineering. It emphasizes that financial institutions must transform third-party risk management from a compliance checkbox into a comprehensive strategic program with robust vendor oversight, employee training, and incident response planning.

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In Depth

Risk Management

When Vendor Risk Becomes Your FI’s Risk: Lessons from the Allianz Life Data Breach

In Depth

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