KY3P
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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
