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Glossary: Business Risk, Third Parties and Compliance

Due diligence

Checking a vendor carefully before you commit to it: its security evidence, finances, legal record, references, its own vendors and its insurance. Alex's reference call that uncovered Northfield's hidden breach was due diligence.

Where the book teaches it

Related terms

Vendor assessmentVendor monitoringSanctions listKnow your customer (KYC)