VComply Editorial Team
Today, data is everywhere. With ecosystems and infrastructures going digital, access to personal and sensitive data has proliferated across the board, giving rise to the need for adherence to data compliance standards.
Business continuity risk refers to threats that disrupt the functioning of a business. These threats maybe any untoward incidents or disasters that negatively impact an organization.
The purpose of compliance in banking is to detect and prevent any abnormality, criminality, and noncompliance in the bank’s functioning. Banks must operate with integrity and follow regulations, internal policies, and applicable laws.