What does compliance mean?
The term "compliance" stands for "to observe" or "to follow".
- In the true sense of the word, it means "compliance" with the law and "conformity" with statutory regulations and self-imposed or unwritten codes of conduct (conformity to rules).
- Compliance covers topics such as antitrust law, labor law, data protection and trade.
- In times of globalization, companies of all sizes are increasingly at risk of suffering material or immaterial damage as a result of white-collar crime.
- The aim of compliance is to prevent such damage, minimize liability and damage claims, and build up a responsible reputation.