Compliance

Compliance refers to the act of adhering to rules, regulations, and laws. It is a set of practices and policies that ensure that individuals, organizations, and entities follow specific standards and guidelines. Compliance can be related to various areas, including financial, legal, environmental, and ethical issues.

In the business context, compliance involves implementing and following various regulations and laws that govern a particular industry. For example, financial institutions must comply with regulations related to anti-money laundering, consumer protection, and data privacy.