Financial Crime World

Turkey Businesses Must Up Their Compliance Game

In an increasingly complex regulatory environment, Turkish businesses are facing a significant challenge: staying compliant with the multitude of laws and regulations that govern their operations.

The Challenge of Regulatory Complexity

According to experts, effective compliance management is not just about ticking boxes; it’s about fostering a risk-aware culture within organizations. This means that employees must be trained on the laws, regulations, and policies that apply to their job responsibilities.

What is Compliance Management?

“Compliance management is a holistic methodology designed to protect and enhance business value,” says an industry expert. “It’s about streamlining and simplifying the risk management process, freeing up time and resources so that experts can focus on strategic planning.”

The Struggle to Keep Pace with Regulatory Change

Many Turkish businesses are struggling to keep pace with regulatory change. The volume and velocity of new regulations are putting a strain on resources, with some companies devoting hundreds of person-hours every year to monitoring the external environment.

Symptoms of Poor Compliance Management

  • How much time and money is being spent tracking regulatory changes?
  • Has an important regulatory change event slipped through the cracks, and what were the associated costs?
  • Does the business understand the impact of regulatory change, and how can its ability to tackle compliance risk issues be improved?
  • How does the organization provide evidence of regulatory change management success to key stakeholders such as the Board, senior management, and regulators?

Adopting Regulatory Compliance Management Programs

To combat this, organizations in Turkey are adopting regulatory compliance management programs that help them stay ahead of the curve. These programs enable businesses to identify and respond to regulatory changes more quickly, reducing compliance risk and improving communication with stakeholders.

Benefits of Regulatory Compliance Management

  • Improved efficiency and reduced costs
  • Enhanced reputation and stakeholder trust
  • Increased agility in responding to regulatory change
  • Better risk management and mitigation

Finding a Partner for Regulatory Compliance Needs

For Turkish businesses looking for a partner to help with their Regulatory Compliance (RC) needs, Doruksistem is an experienced and well-organized service provider. With 13 years of experience in the field, Doruksistem offers a range of services designed to help organizations stay ahead of regulatory change.

Get in Touch with Doruksistem

To learn more about Doruksistem’s RC services, contact them at:

Let Doruksistem help you stay ahead of the regulatory curve and achieve your business goals. Contact them today to learn more about their services!