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The importance of compliance training in your business

On Behalf of | Mar 25, 2024 | Investigations & Regulatory Compliance

Businesses are required to adhere to state and federal laws, regulations and internal policies. A business could face severe legal consequences, reputational damage and financial loss if it does not comply with laws. Businesses can implement comprehensive compliance training programs to help mitigate the risk of misconduct and to demonstrate a commitment to ethical standards. 

Employees can be more equipped with the knowledge and skills necessary to navigate issues within an organization after they undergo compliance training. By encouraging a culture of compliance, businesses can safeguard against legal liabilities. Here are a few issues to address in compliance training:

Anti-discrimination and harassment training

Discrimination and harassment breeds a hostile work environment for minorities. Employees who experience discrimination and harassment may feel unsafe and unwelcome. Businesses can reduce discriminatory behavior and harassment by training employees to recognize and report unethical actions. Allowing these behaviors to persist in the workplace can lead to legal battles.

Data privacy and cybersecurity awareness training

Many employees handle sensitive information, including passwords, coding and reports. If any of this information was stolen or improperly handled, it could threaten a business. Employees may need training to spot cybersecurity threats, such as data breaches and phishing attempts. 

Anti-bribery and corruption training

Acts of bribery to foreign government officials can violate the Foreign Corrupt Practices Act (FCPA). Anti-bribery and corruption training can help employees recognize signs of bribery and understand their responsibilities to report suspicious activities. 

Incorporating compliance training that focuses on ethical conduct and regulatory compliance can help prevent major legal issues and foster a strong business environment. Prioritizing compliance training can be difficult. Businesses can seek legal guidance to help establish a comprehensive compliance training model.