Compliance

Compliance is the process of ensuring that an organization adheres to all relevant laws, regulations, standards, and ethical practices that govern its operations, with a primary focus on mitigating legal, financial, and reputational risks associated with regulatory bodies like the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC). Effective compliance programs establish internal controls and monitoring systems to proactively detect and prevent violations, thereby safeguarding the integrity of the business and the broader financial system.