Tag Archive: dark reading
In a recent article on Dark Reading, The Compliance Officer’s Dirty Little Secret, the topic of how Chief Compliance Officers (CCO) form their decision making process(es) around compliance was brought to light. One major decision CCOs are responsible for making is whether to pay the fines associated with non-compliance versus the cost of achieving compliance. I’m sure there are many debates that can go back and forth of the efficacy of either case depending on industry, regulatory requirements, the degree of a breach, etc. but in MANY cases the former is far more costly than the latter when you think of legal risks from class action lawsuits (incurred following a breach), cost of notification to customers, brand image, potential stock price fallout not to mention the cost of consultants and technology to remediate the problem.