Compliance with laws, regulations, or standards (Data)
The degree to which data is in accordance with laws, regulations, or standards.
- •Avoidance of legal penalties, significant fines, and sanctions from regulatory bodies.
- •Enhanced corporate reputation, stakeholder trust, and brand image.
- •Reduced risk of litigation, legal challenges, and associated costs.
- •Smoother audits, easier regulatory reviews, and maintenance of licenses to operate.
- •Significant financial penalties, legal costs, and potential business disruptions for non-compliance with laws (e.g., GDPR, SOX, HIPAA).
- •Severe damage to brand reputation, public trust, and customer loyalty.
- •Increased scrutiny from regulators, potential operational shutdowns, or loss of certifications.
- •Litigation risks from affected parties (customers, employees, shareholders) due to data misuse or non-compliance.
Story
Logistics: Hazardous material data includes all fields (e.g., UN number, proper shipping name) required by international shipping regulations (IMDG Code).
Healthcare: All patient data handling processes adhere to GDPR or HIPAA requirements for consent, security, and breach notification.
Finance: Customer identification data collected during onboarding meets Know Your Customer (KYC) regulatory requirements.
Logistics: Storing customer personal data (e.g., consignee contact details) without required consent or for longer than permitted violates GDPR.
Healthcare: Patient records are not de-identified according to HIPAA standards before being used for research.
Finance: Financial transaction data does not include all fields required by anti-money laundering (AML) regulations.
Hazmat Classification Validation improves 17
Tax ID Format Validation improves 17
HS Code Validation (Harmonized System) improves 17
Calibration Due Date Enforcement improves 17
Inspection Frequency Compliance improves 17
Material Safety Data Sheet (MSDS) Linkage improves 17
Permit/License Expiry Tracking improves 17