Businesses can take several steps to minimize the risk of fines:
Compliance Programs: Implementing robust compliance programs to ensure adherence to relevant laws and regulations. Employee Training: Regular training for employees on legal requirements and ethical standards. Internal Audits: Conducting regular internal audits to identify and rectify potential compliance issues. Legal Counsel: Engaging legal experts to provide guidance and ensure that business practices are in line with current laws. Transparency: Maintaining transparent operations and open communication with regulatory bodies.