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The Top 5 predictions for the compliance arena

In 2023, a number of regulations will be updated, creating new requirements for businesses to follow, new areas of risk to monitor, and more money and time spent adjusting to these changes. Non-compliance with any of these regulations could result in fines, seizure of goods, loss of market access, and erosion of customer trust.

“At Abler, as an independent specialist compliance consulting boutique firm operating in Mauritius and the UAE, we strive to be at the forefront of innovation in the compliance field and are always on the lookout to help our clients prepare better to meet their compliance obligations from a forward-looking rather than retroactive perspective. Our top five predictions for how the compliance arena is expected to evolve in 2023 and help businesses stay ahead of the curve as they enter the New Year are that ESG compliance will bring new impetus to combat greenwashing; there will be an increasing focus on Artificial Intelligence Regulatory compliance; tech savvy compliance officers will be on the rise; we will see compliance e-learning reaching new heights in the hybrid workplace and the challenge will be keeping abreast of ever-evolving virtual asset compliance,” affirms Shahannah Abdoolakhan, Chief Executive Officer of Abler Consulting Ltd.