Chief Anti-Money Laundering Officer (CAMLO)
March 18, 2025Compliance Program
March 18, 2025Definition:
The practice of protecting client information from unauthorized access, use, or disclosure.
Contextual Explanation:
Financial institutions and PSPs must implement data protection measures in compliance with regulations like the GDPR and PIPEDA.
Why It Matters:
Breaches can lead to legal penalties, loss of customer trust, and financial damages. Strong cybersecurity and privacy policies are essential for compliance.