The Top 10 Risks to Your Business's Compliance and How to Mitigate Them
By VOS Consulting Group on Nov 15, 2023
Top 10 Compliance Risks:
1. Data Breaches
2. Regulatory Non-Compliance
3. Cyberattacks
4. Human Error
5. Vendors and Partners
6. New Regulations
7. Inconsistent Enforcement
8. Resource Constraints
9. Management Support Gap
10. Employee Awareness Deficit
Mitigating Compliance Risks - Best Practices:
1. Deploy Comprehensive Compliance Programs.
2. Educate Employees on compliance.
3. Employ Technology Safeguards.
4. Continuously Monitor Compliance.
5. Develop Incident Response Plans.
6. Collaborate with Vendors prioritizing compliance.
7. Stay Current with Regulations.
8. Secure Management Support.
9. Cultivate a Compliance Culture.
By following these practices, businesses can proactively address and mitigate compliance risks, safeguarding against non-compliance consequences.