World: Pandemic Is An Opportunity to Clean House, Compliance Experts Say

The coronavirus pandemic is presenting companies with an opportunity to scrutinize due diligence processes, risk assessments and other routine tasks that help businesses avoid brushes with the law, compliance chiefs say.

The effort to make compliance departments more cost-effective is happening as companies grapple with the economic fallout from the coronavirus pandemic.

“This is an amazing time for companies—especially their compliance departments—who are resource-strapped, to engage in what I call internal cleanup,” said Allen Chiu, chief compliance officer of Genesys Telecommunications Laboratories Inc., a call-center software company.

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