Companies of all sizes routinely outsource work to third-party contractors. Yet, each third-party hire comes with risk. Whether deliberate or unintentional, a third party’s actions can cost you money and harm your company’s reputation — particularly if they violate laws and regulations. Here’s how to contain possible threats. Potential problems Suppose your company employs an overseas trucking company to transport goods from a port to a customer’s warehouse. The driver could pay a kickback to customs personnel to release shipments quickly — potentially subjecting your business to bribery and corruption charges locally and in the United States. In another scenario, a third party might expose your company to excessive risk because it lacks a robust cybersecurity program and is easily hacked. This is what happened when Target Corporation...