Webclass 89: 3rd Party Risk Management and KYC KYT basic tests

Q1. How might you automatically check if your third-parties have a website?

Use Selenium package in python to scrap Google

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Use Spacey package in python to scrap Google

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Q2. Why might you be interested to see if there are third-parties that have similarities, such as the same address, telephone number or bank account?

Because they could be the same entity but entered multiple times, for example, in order to obtain sales orders despite there being outstanding debt and credit block or customers that move money between bank accounts as part of a money laundering scheme

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Because extra copies of the same third-party takes up too much space in the database and wastes resources

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Q3. Why might you want to use correlation?

So that you can see all the tests relating to a particular customer on one page and so that you can see a risk analysis for your entity in terms of the total value of payments to third parties identified by your tests

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So that you can see the fraud scenario immediately without having to check with the auditee

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Q4. Which python package could we use to check if your third-party has the name of an individual rather than a company?

Spacy

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Pandas

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Q5. Why might we want to use a network diagram?

So that we can visualize third-parties that have common information, for example, customers that have the same owner

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So that we can see if a supplier has payments of a value that is unusually high

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Q6. Which graph did most of the people on the webclass find to be the most useful in terms of finding cases of customers that have unusual transactions compared to their habitual transactions?

Treemap

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Box and whisker plot

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Q7. Why does the comparison of the average to the maximum transaction value not give us all the information we need to immediately see if the transaction is unusual?

Because we also need to consider the frequency of the transactions per range of value or bucket

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Because the maximum is not an interesting value to look at compared to the average

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Q8. Why might we want to make the size of a bubble on a scatter diagram equal to 1/ the number of transactions?

So that the bubbles that are bigger represent the buckets that are rare for the customer, and stand out more on the dashboard

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So that the bubbles that are smaller represent the buckets that are rare for the customer and stand out more on the dashboard

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Q9. On a scatter plot of value versus average per customer, would we expect all points for the same customer to be in a vertical line?

Yes

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No

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Webclass 89: 3rd Party Risk Management and KYC KYT basic tests

Webclass 89: 3rd Party Risk Management and KYC KYT basic tests

admin June 9, 2026

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