KY3P

Anti money laundering.

'KY3P' refers to knowledge and understanding of third-party risk in relation to transactions, especially - but not only - financial transactions.

The term derives from Know Your 3P (third party).

The term KY3P derives from the principle of 'KYC' (Know Your Customer), KY3P being a broader concept than KYC.

Third parties would include, for example, suppliers as well as customers.

See also

• Know-your-customer
• Money laundering
• PEP
• Third party

Other resources

Squeaky Clean, The Treasurer, 2015