Assessing Risks Associated with Third-Party Vendors
Many gambling companies in the UK rely on third-party vendors for various services, but these vendors can pose significant risks if not properly managed and monitored. To address this concern, the UK’s Gambling Commission has included “Supplier Management” as a requirement in the Remote Gambling and Software Technical Standards (RTS), based on the ISO 27001 standard.
Azanzi Compliance incorporates RTS controls in the standards you can select to monitor against, enabling easier management reporting and improved compliance. By utilising Azanzi TPRM (Third-Party Risk Management), gambling companies can also satisfy the Gambling Commission’s RTS for Supplier Management.
Detecting and Preventing Cyber Breaches
Breaches are a constant threat in the gambling industry, and third-party vendors can be a potential source of these breaches. To safeguard against such risks, Azanzi TPRM offers a comprehensive solution by actively monitoring the information security activities of third-party vendors. This proactive approach helps detect any suspicious behaviour or security vulnerabilities that could lead to a breach. By identifying and addressing these issues promptly, gambling companies can effectively prevent breaches and protect their systems and sensitive data.
Learn moreEnhancing Regulatory Compliance
Compliance with regulatory requirements is of paramount importance in the gambling industry. The Gambling Commission's Licence condition 15.2.1 (para 16) mandates that operators report any information security breaches, including those caused by suppliers. Azanzi TPRM ensures that gambling companies meet this requirement by enabling effective management and reporting of security breaches caused by third-party vendors. By using the platform, operators can streamline their compliance processes and fulfill their obligations more efficiently, thereby avoiding potential penalties and reputational damage.
Learn moreBetter Risk Management with TPRM
Implementing a Third-Party Risk Management (TPRM) platform provides numerous benefits to the UK gambling industry. By effectively assessing the risks associated with third-party vendors, gambling companies can make informed decisions about their partnerships and mitigate potential vulnerabilities. This proactive risk management approach not only enhances security but also helps maintain customer and stakeholder trust and satisfaction. In addition, the TPRM platform assists the Gambling Commission in overseeing and managing the risks posed by third-party vendors, ensuring a safer and more secure gambling environment for all stakeholders.
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