If sanctions are the top enforcement priority for the Department of Justice (DOJ), companies have got the message, according to a recent study.
Nearly half the respondents (43 percent) to a survey conducted by Compliance Week and third-party risk management (TPRM) software provider Certa said increasing regulatory scrutiny was the main factor driving their organization’s adoption of technology for third-party due diligence and sanctions compliance. Businesses also indicated keeping pace with the rate of regulatory change as the biggest challenge to ensuring sanctions compliance (59 percent), ahead of budget constraints (44 percent), training third parties (37 percent), and lack of data (32 percent). More than one answer was permitted.
