Technology Compliance Risk

Technology Compliance Risk refers to the potential for an organization to fail to meet legal, regulatory, or internal standards related to its technology systems and processes. This risk can arise from issues like data privacy violations, inadequate cybersecurity measures, or the improper use of software. If these compliance requirements are not met, the organization may face legal penalties, financial losses, or damage to its reputation. Effective Technology Risk Management identifies and mitigates these risks to ensure that the organization adheres to all relevant laws and standards, thereby protecting its assets and stakeholders.