SUPPLIER/VENDOR DUE DILIGENCE – TOOLS FOR IIAC MEMBER FIRMS
The IIAC has developed a set of tools to assist Dealers in assessing the risk profile of existing and potential Suppliers/Vendors in respect of their use of personal information provided by the Dealer that may be collected, accessed, used, stored, or otherwise processed (collectively “processed”) by the Supplier/Vendor.
Under applicable privacy laws, Dealers are responsible for personal information in their possession or custody, including information that has been transferred to a service provider for processing. This means that the Dealer must implement appropriate measures to protect personal information while it is being processed by the Supplier/Vendor, having regard to the sensitivity of the information and its scope/volume.
The IIAC tools include a:
IIAC members can access these documents here. If you have any questions, please contact Susan Copland.