Top 10 op risks: third parties stoke cyber risk

High-profile hacks on market infrastructures and vendors expose linkage between top three risks

Credit: montage

When critical trading technology vendors Ion Group and EquiLend were both hacked within 12 months of each other, the financial services industry was forced to face a harsh new reality: the compounding effect of multiple risks spanning cyber and third parties.

In’s 2024 survey of the top 10 operational risks, three interconnected factors were laid bare. Information security, IT disruption and third-party risk were ranked one, two and three, respectively, as the biggest dangers faced by

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