IHS Markit, a critical information, analytics and solutions provider, announced that its vendor risk management service, KY3P, added financial crimes screening to its comprehensive due diligence tools.
With the enhanced service, KY3P users will be able to detect whether their vendors may have breached standards governing anti-bribery and corruption, anti-money laundering, sanctions and export controls. Financial crimes screening data are sourced through RDC GRID, the largest database of global risk intelligence from RDC.
The patented KY3P platform is the first centralized community for improving third-party risk management. KY3P presents a holistic vendor-risk profile, spanning information-security risk assessment, business continuity, sanctions screening, anti-bribery and corruption screening, financial risk assessment, cyber vulnerabilities, and negative news assessment. It offers a standardized due diligence process and a single platform for vendor response management during major incidents.