What is Compliance Risk and What is Compliance Breach?

In this video, we will discuss the Compliance Risk which is also known as the Regulatory risk and then we will also discuss what is a compliance breach and what happens when it occurs. Compliance risks may result in fines and reputational losses. Compliance risks may also cause the occurrence of illegal activities such as money laundering, bribery, theft, fraud, privacy breach, and corruption, leading to penalties and fines. Therefore, organizations especially financial institutions. are required to take appropriate compliance risk management measures to comply with regulations, standards, laws, and policies. You will understand the importance of Compliance Risk and its possible implications if regulatory requirements are not properly understood, and implemented by the organizations.
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For more conceptual GRC Videos please check the below links:
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