In today's interconnected business ecosystem, collaborating with third-party vendors and partners is essential for growth and efficiency. However, this collaboration also introduces significant security risks, ranging from data breaches to compliance violations. This panel discussion will bring together industry experts to explore effective strategies for reducing security risks when working with third parties. Topics will include best practices for vendor assessment and selection, establishing robust contractual agreements, implementing monitoring and auditing mechanisms, and fostering a culture of security awareness across organizations.