We invite you to read the letter to the editor written by our Compliance group director, Yoab Bitran, on the ongoing challenge for companies in mitigating risks associated with cybersecurity, labor harassment and corruption.
Mr. Director:
On a frequent basis, one hears in companies the concern about what seems to be a real regulatory storm, in particular the entry into force of the laws on Economic Crimes, Karin and the approval of the Law on Personal Data Protection.
The fact is that companies are facing a variety of regulations, which require them to adapt their structure, governance and controls. Virtually all organizations have prevention activities and structures in place. What is required is to articulate and coordinate them. The challenge is to build an effective and efficient compliance program that takes advantage of the synergies between different prevention activities and areas of the company.
An effective compliance program can mitigate cybersecurity, harassment, corruption and antitrust risks. The ultimate goal remains to build and sustain a corporate culture, a culture of data protection, of respect and inclusion in the workplace, of integrity.
Efficiently managed, compliance should contribute to the decision making of all employees. Thus, compliance is beginning to be understood not only as a defense mechanism to avoid sanctions and reputational damage, but as a real strategic advantage.
Letter written by:
Yoab Bitran | Compliance group director | ybitran@az.cl
