Third Party Risk Management
EU Supply Chain Laws now require companies to know not only “who they are working with” but also their supplier’s supplier.
What is Third Party Risk Management?
Third Party Risk Management is the process of identifying and controlling financial, ethical and operational risks that may arise from suppliers, business partners and external service providers. This process ensures early detection of situations that may lead to misconduct, conflict of interest, data breach or reputational damage.
Methodology & Team
In today’s business world, where third-party risks are increasing, documentation alone is no longer enough to recognize potential business partners and subcontractors.
With our team applying comprehensive research methods based on open source intelligence (OSINT), you can see your third-party risks more clearly and make confident management decisions in investment, partnership and market entry with concrete evidence-based analysis.
Prosecur systematically investigates the risks of corruption, fraud and economic crime through media, regulatory records and internal industry sources.
Our success is based not only on our open source (OSINT) strength, but also on our team with intelligence-based field experience and analysis capacity. We produce evidence-based, defensible and applicable findings in Turkey and international projects.
Other Related Service Areas
What and How We Research
Prosecure does not see third-party risk management as a mere document review; it transforms every project into an intelligence-based analysis process. The methodology developed under the leadership of our founder Hasan Alsancak combines open source data, field verifications and behavioral indicators to make risks visible. This structure not only identifies third parties, but also measures their level of trustworthiness and makes your decisions defensible and evidenced.
1) Analysis and Profiling
Counterparty profile, ownership, past activities and risk hypotheses.
2) Sources & OSINT
Local/international media, registries, case-execution, sanctions lists, supply chain traces.
3) Field Verification
On-site confirmation, third party references, activity traces and discrepancy checking.
4) Compliance & Regulation
License, permit, violation and enforcement history in regulated sectors.
5) Reporting & Defensibility
Source references, risk score and recommendations for action.
6) Privacy & NDA
“need to know” approach under NDA, encrypted storage and audit trail.
7) Scheduling
Scope, delivery schedule and accelerated process management.
Risk Signs - Red Flags
- Non-transparent financial records or inconsistent financial statements
- Excessive low bidding or dependence on a single supplier
- Kinship or vested interests in management
- Improper exchange of gifts, commissions or benefits
- Negative media, litigation or reputation history
- Resistance to sharing information or request for confidentiality
- Being on prohibited supplier lists or under sanctions
- Concealment of the real beneficiary
- Lack of compliance and ethics policies
- Resistance to audit or inspection requests
The risk of conflict of interest in supplier relationships often grows unnoticed.
Frequently Asked Questions
In which cases is third-party risk management required?
New supplier selection, M&A processes, regulated sectors or counterparties with a history of negative signals.
Which sources are analyzed?
How can outputs help decision making?
How to protect privacy?
See your third-party fraud risks through our eyes
Decide on your suppliers and business partnerships based on evidence-based findings, not opinion.
