What is compliance risk?

What is compliance risk? 
TechTarget; by Katie Terrell Hanna and Francesca Sales; 11/26/24 
Compliance risk is an organization's potential exposure to legal penalties, financial forfeiture and material loss, resulting from its failure to act in accordance with industry laws and regulations, internal policies or prescribed best practices. Compliance risk is also known as integrity risk. Organizations of all types and sizes are exposed to compliance risk, whether they are public or private entities, for-profit or nonprofit, state or federal. An organization's failure to comply with applicable laws and regulations can affect its revenue, which can lead to loss of reputation, business opportunities and valuation. Types of compliance risk ... An organization might be implicated in the following types of compliance risks:

• Corrupt and illegal practices. ...
• Privacy breaches. ...
• Environmental concerns. ...
• Process risks. ...
• Workplace health and safety ...

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