Our compliance team consists of regulatory and legal experts that are passionate and dedicated to creating an industry that is safe for both businesses and consumers. We support several clients’ compliance needs offering services in over 17 territories.
Our culture of compliance has seen us lead the industry in the innovation of processes and tools.
Our services include:
- Licensing requirements
- Policy and procedure management
- Risk assessments and corporate governance
- Anti-money laundering management
- Know your Customer analysis and management
- Responsible gambling tools
What is Compliance
Compliance in a business sense is usually a team of experts whose sole responsibility is to make sure that laws, regulations and standards are being met throughout the business. The compliance team is on hand to oversee all business proceedings and intervene if any areas are breaching some sort of compliance rule. Running a business is not a small feat, and with the world we live in today there are seemingly endless amounts of laws, standards and regulations to keep up with. It is simply not possible for a company to adhere to these rules without a compliance team who are all experts in that specific field. Compliance teams will also be a part of any planning or rolling out of campaigns as they must carry out risk assessments on all projects. From the ground up they must ensure everything is running as it should. When it comes to licensing and copyright issues, that is another area in which compliance teams come in. They will work on both sides making sure that your business is protected whilst also making sure you are not breaching any standards through your actions. Compliance is certainly one of the most important areas of any successful business. Breaching of rules, laws, standards or regulations can cause massive harm to a business of any level.
Why is Compliance important
When it comes to the law, there is a fine line that businesses must adhere to. A breach of law in particular could cripple a company both financially and operationally. That is where a compliance team is hugely important and must be invested in heavily. The difference between a poorly run compliance team and a high-quality efficient team could make or break your entire business. Although the compliance team may not directly link to marketing, what they do similarly affects the reputation of the business and the overall revenue. A breach of any kind of regulation, law or standard is more than likely going to affect your brand name and income streams. Being known as the company which does not conduct business in regards to the law is not a reputation any business would want to garner. No matter what size your business is, the importance of compliance is seen from day one. The creation of a business itself requires extensive knowledge of laws and business etiquette. As a new business owner you may not have the full expertise needed to efficiently get your business going. Compliance is something that if overlooked, can cause serious harm to your company’s success.
How Compliance can help your business
Compliance teams are employed to make sure the company’s financial state is not negatively affected by any of their actions. The simple way this helps your business is by acting as a safety net to make sure your growth and progress remains consistent. With a well organised compliance team, any bumps in the road should be avoidable or pre-determined through planning and risk assessment. By analysing these risks ahead of time, these roadblocks are less likely to occur and that means businesses can concentrate on the important part which is providing a high quality product or service. Compliance teams bring an area of knowledge that is extremely niche and hard to come by. For this reason they can be priceless in the positive effects they bring to a business.