Why use compliance implementation?

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Compliance with financial regulations
Compliance was decided following the financial crisis of 2008. Indeed, many abuses were observed and these have strongly shaken the world of finance and business. Compliance audits ensure the proper financial management of the companies audited. Compliance is an effective solution to combat money laundering, tax fraud or terrorist transactions. Thus, corporate compliance audits prevent financial risks and control complex situations. Compliance ensures that the company is truly compliant with all laws and regulations in force regarding the financial sector.

User data security
The GDPR governs the employment database processing of personal data of customers or other users of a company's services on European territory. The declaration of consent for the transfer of personal data must be validated by the user of the product or service. Each data processing operation must have a purpose assigned to it. It must obviously be legal and legitimate with regard to the company's sector of activity.

Compliance thus ensures the protection of personal data. The latter cannot be used for purposes other than those specified in the GDPR declaration .

Compliance also monitors companies' compliance with competition law as well as CSR (corporate social responsibility) for the well-being of the user and their protection.

Compliance therefore has a role to play within the company itself, to protect against risks, but also in the interest of the customer or user.

The implementation of compliance procedures aims to protect companies against financial risks and therefore the loss of money due to tax fraud, corruption or even non-compliance with the rules of good conduct of employees. Failure to comply can be very detrimental to the company. Indeed, the latter incurs financial risks, but also a loss of reputation.

By rebound effect, adherence to a good compliance practice therefore makes it possible to optimize the company's results and to perpetuate its activity. In addition, compliance makes it possible to reduce costs by avoiding sanctions linked to the non-control of risk systems.