Even though it’s a huge accomplishment when you become a business owner, the truth is that this venture also comes with massive responsibilities and risks that can frequently be difficult to tackle.
Speaking of risks, some are relatively minor; however, there are those that can be pretty severe, jeopardizing not only your reputation but most importantly, your safety and the safety of anyone else who works for you.
This particularly refers to criminal liability, which happens when someone who is part of your company (including you, too) is engaged in illegal activities. This is something that should be taken seriously because once it occurs, it can result in huge penalties, like hefty fines, and, at times, even imprisonment.
That’s precisely why every entrepreneur should aspire to protect themselves against unlawful things. There are certain things that can be done that will help you create a safe work environment and keep various violations at bay.
How Well Are You Familiar With The Criminal Liability?
In order to be proactive about this, you first need to get your facts straight. Keep in mind that criminal liability can be a direct result of two things: someone’s negligence or intentional wrongdoing. The most common areas of risk include the following:
- Regulatory violations – This normally includes labor regulations, environmental laws, workplace safety, and others.
- Financial crimes – They refer to money laundering, any type of financial scam, tax evasion, and insider trading.
- Illegal activities in the digital world – Cyber threats of different types have unfortunately become extremely common, and no one (including firms) can fully protect themselves from them. But on a more positive note, there are laws such as HIPAA and GDPR that are here to remind employers to do whatever they can to secure personal data.
So, what can be done if you conclude that a specific criminal offense has happened within your premises? According to the team at Josh Smith Legal, one of the smartest things that you can do for yourself and your organization is to consult a criminal justice lawyer. This is particularly important if we’re talking about a serious crime that requires a powerful defense.
If that’s the situation, then this is basically considered mandatory because these cases are usually very challenging and difficult to navigate, and you’ll need to have someone by your side who’s going to either completely dismiss charges or at least lower them, depending on the complexity of your situation.
Compliance Must Always Be Prioritized
One of the most powerful ways to protect your business against criminal liability is through this. It’s of huge importance for every company to constantly work on creating different strategies that will help it stay compliant.
And you shouldn’t be the only one who’s going to nurture this. You also need to include your workforce, clients, and everybody else who is part of your business circle in one way or another.
In order for all of this to be effective enough, you must be the one who’s going to set a good example as far as this goes. So, what does this mean? It means that you should constantly highlight how pivotal it is to build a culture of compliance and how no one should ever do anything that’s going to potentially compromise their integrity.
There are a couple of steps that can be done that are going to allow you to create a compliance-oriented culture, such as:
- You need to properly communicate your objective when it comes to this, with every single person who’s linked to your company.
- Be sure to implement policies that are ethical and adhere to the most essential rules and regulations.
- Create a safe space that will enable your team members to openly address any questions and/or concerns that are related to the legal matters.
As soon as compliance becomes an integral part of your firm, you are going to significantly decrease the risk of any misconduct.
Training & Education As A Must
Your workers can be an excellent line of defense when it comes to this; however, if they aren’t educated and trained enough, then they won’t know what to do in these circumstances. Therefore, it’s your duty as their superior to provide them with the proper training and education to help them stay prepared and informed.
Truth be told, no organization today can afford to be constantly exposed to numerous serious criminal risks, because the consequences of something like this can be very costly, and most importantly, ruin its reputation and progress for good.
Article received via email
