RiskImmune (By RC)

The Success Story of a Singapore University Adopting RiskImmune Solution https://bit.ly/3YFyTxB #thirdparty #business

Dear Compliance Officer, I know you’re overwhelmed with work. But I promise I can make it easier. Let me be your guide through compliance. Love, RiskImmune ❤️

Yesterday, our founder attended a fantastic event organized by Plexal. Here’s a quick recap of the powerful ideas shared, exploring whether AI is the transformative tool we hope for—or if it risks casting shadows over business and society. 🔍 Reliability of AI in Decision-Making David Sully CEO & Co-Founder of Advai, tackled one of AI’s biggest challenges: reliability. He emphasized the need for rigorous testing and transparency in AI systems, especially in high-stakes decisions. David noted that without reliability, AI adoption in sectors like finance, healthcare, and security remains a fragile trust issue. ⚖️ Liability for AI’s Actions Joshua Walter at Osney Capital, raised critical points about accountability in AI. Who’s responsible when an AI makes a mistake? From data bias to autonomous decision-making, Joshua pointed out that without a clear framework, businesses face significant risks. He advocated for regulatory clarity to protect both companies and consumers from potential AI missteps. 🎭 Deepfake Dilemmas Dr Magda Chelly , Co-Founder of RiskImmune (By RC), shared insights into the increasingly sophisticated realm of deepfakes. She warned that the threat from deepfake technology extends beyond entertainment into reputation risk, fraud, and misinformation. Magda urged businesses to adopt proactive measures and emphasized the need for tech-driven solutions that can detect and mitigate deepfake risks early. The evening wrapped up with great conversations over pizza and drinks, leaving everyone with fresh perspectives on AI’s role in shaping the future. Is AI the innovation we envision, or are there hidden risks we’re only beginning to understand? It’s a conversation that’s just getting started. #riskimmune #regtech #AI

Compliance has officially become a core focus for tech companies. By 2024, fintech companies are expected to dedicate 20-25% of their workforce to compliance alone. With global compliance costs now topping $310 billion and climbing, the challenge isn’t just keeping up with regulations—it’s finding sustainable ways to manage them effectively. Key regulations like the EU’s Cyber Resilience Act and AI Act are reshaping the compliance landscape, with non-compliance fines reaching 4-6% of global revenue. It’s clear that the old ways of managing risk won’t cut it anymore. Real-time regulatory intelligence and automation tools are essential for staying compliant and competitive. How is your team adapting to these changes? Is automation part of your compliance strategy? 💼 Let’s connect and share best practices! #TechCompliance #Fintech

Traditional compliance practices just can’t keep up with this dynamic landscape. This is where Real-Time Regulatory Intelligence becomes invaluable. Here’s what makes it so essential: 🕒 Staying Ahead of Changes: With thousands of regulatory updates annually, having real-time alerts ensures compliance managers don’t miss critical updates. This proactive approach is crucial for avoiding last-minute adjustments and maintaining compliance smoothly. ⚠️ Reducing Risk: Non-compliance penalties are rising, with AI and cybersecurity fines reaching billions globally. Real-time intelligence lets compliance managers address risks as they emerge, providing an extra layer of protection for organizations. 💡 Better Decision-Making: With a real-time view of regulations across multiple jurisdictions, compliance managers gain a comprehensive understanding of their organization’s risk landscape. This helps them make informed decisions that align with both current and upcoming requirements. 🚀 Efficiency and Focus: Real-time updates free compliance teams from manually tracking regulations, allowing them to focus on strategic initiatives instead. This is especially valuable in heavily regulated sectors where compliance demands are only growing. For compliance managers, real-time regulatory intelligence is more than a tool—it’s a lifeline for navigating today’s complex regulatory world with confidence and agility. 🌐 What’s the biggest challenge your compliance team faces? Let’s discuss below! 👇 #Compliance #RiskManagement #RegTech

🌍 Did you know? By 2024, over 65% of countries will have AI-specific regulations in place! 🌍 For compliance professionals, the clock is ticking. As AI evolves rapidly, so does the regulatory landscape, with countries worldwide implementing frameworks to ensure ethical, transparent, and responsible AI practices. The era of AI regulation is here, and for organizations looking to stay ahead, proactive compliance is now essential. Here’s why compliance professionals need to start preparing: 1️⃣ The Pace of Change is Unprecedented In previous tech waves, regulations often lagged, giving companies flexibility. But with AI, regulators are moving quickly to address risks like bias, privacy, and transparency. The EU's AI Act, frameworks in the U.S., and standards across Asia show that nearly every market will soon have formal guidelines. Staying updated on these rapid developments is no longer a choice—it’s essential for maintaining compliance and avoiding costly penalties. 2️⃣ Risks of Non-Compliance Are Growing New regulations bring new consequences. By 2024, non-compliance may lead to hefty fines, operational restrictions, and, perhaps most concerning, reputational damage. The stakes are high, with AI non-compliance fines already exceeding billions globally. For businesses, proactive compliance is a safeguard, helping avoid legal and financial repercussions while protecting brand reputation. 3️⃣ Compliance as a Competitive Advantage Imagine your organization has a solid compliance framework, while competitors scramble to meet new standards. Proactive AI policies that prioritize ethics and transparency are key to building consumer trust. In a digital era where trust can make or break a business, strong compliance can be a significant differentiator. 4️⃣ Cross-Functional Effort is Required AI compliance isn’t solely an IT or legal issue—it requires collaboration across compliance, risk, IT, legal, and marketing teams. Bias reduction, data privacy, and operational impacts all need attention. Setting clear policies, training staff on ethical AI practices, and fostering a compliance-first culture can help organizations address the challenges of AI governance effectively. 5️⃣ Future-Proofing Starts Now Building a compliant AI infrastructure today saves resources and prevents the scramble of catching up later. A flexible compliance framework allows companies to innovate confidently, knowing their systems are secure and ethically aligned. Proactive investment in AI compliance tools now will pay off as regulations grow more complex. Stay Informed: Follow AI regulatory updates and connect with industry leaders in compliance to stay ahead. Foster Cross-Functional Collaboration: Create AI governance teams to bridge departments and build a compliance-driven culture. 💼💻 #AIRegulations #Compliance

In today’s fast-evolving tech landscape, regulatory compliance is more than just a checkbox—it’s a strategic challenge for businesses. From AI regulations to cybersecurity and data privacy, staying compliant can feel like aiming at a moving target 🎯. Here’s why regulatory tech compliance is demanding more attention (and resources!) than ever: 📈 Soaring Compliance Costs: By 2024, compliance costs for companies could reach $310 billion globally. In fintech alone, 20-25% of staff may be focused solely on compliance, costing around $15,000 per employee 💸. 🌐 Global Patchwork of Laws: GDPR in Europe, CCPA in California, the EU AI Act… Navigating different regional laws can feel like a maze, especially for businesses operating across borders 🌍. ⚠️ Hefty Penalties for Non-Compliance: Miss a compliance step, and the fines can be enormous—AI non-compliance fines reached over $100 billion in 2023. That’s a price no company wants to pay! 💡 A Growing Need for Compliance Tech: As new regulations emerge at lightning speed, companies are turning to RegTech solutions for automated tracking, risk assessment, and reporting to keep up with regulatory demands 📲. 🔑 Takeaway: Tech compliance is challenging, but it’s also an opportunity to build trust and stay competitive. Investing in the right compliance tools can help companies stay agile, reduce costs, and avoid costly fines. What’s your biggest challenge with regulatory compliance? Drop a comment below! 👇 #Compliance #RegTech

📢 Did you know? By 2024, 20-25% of fintech staff will focus solely on compliance, with an estimated $15,000 in regulatory risk management costs per employee! As the regulatory landscape evolves at breakneck speed, the demand for dedicated compliance professionals in fintech is skyrocketing. The days of compliance being just another function are over—it’s now a core part of fintech operations, shaping everything from product design to data handling. With costs per employee reaching these levels, companies are increasingly seeing the value of advanced compliance tools and streamlined processes. The question isn’t if compliance will remain a priority, but how companies can keep up without stifling growth. How is your organization adapting to this surge in regulatory demands? Source: Finextra - Compliance in Financial Services

Fact: Effective TPRM includes robust incident response plans. Tip: Ensure vendors have their own incident response plans and that they align with yours. #tprm #vendorrisk

Fact: Third-party risk management involves assessing legal compliance. Tip: Ensure vendors comply with all relevant regulations through rigorous due diligence. #tprm #vendorrisk