[author: Linda Luty]
As 2022 comes to a close, now is an ideal time to reflect on the developments and challenges this year held for the risk and compliance profession – and there was no shortage of either. The complexity of maintaining compliance in today’s environment continues to elevate the compliance function and demonstrates the critical role these leaders play in their organization’s security, reputation and revenue. While the below list is not exhaustive, this article covers some of the major happenings in 2022 and gives insight into how to prepare for 2023 and the years to come.
Nearly one year into the war in Ukraine, the impacts continue to be felt around the world. The devastation of this war cannot be overstated – from the loss of life and the physical damage in Ukraine, disruption to the global energy markets and general economic turmoil, recovery will not be swift. One result for organizations conducting business internationally is the need to ensure compliance with the resulting sanctions against the Russian Federation enacted in retaliation for the unlawful invasion of its neighbor.
Staying compliant with sanctions imposed by the Office of Foreign Assets Control (OFAC) and other global enforcement agencies is a challenge for many businesses. Even 10 months into the war, the sanctions environment is still evolving. Even with screening practices already in place, some organizations were still unable to stay compliant and faced...
Park Filed Complaint Against President Lee Ahead of 2021 Election Jang Youngha Sentenced to One Year in Prison, Two Years Probation Confirmed The police have launched an investigation into Park Chu...