EBA Legal Committee and Transport Working Group joint meeting: “Trust in logistics business and agrotrade”
The task of any business is continuous development. However, usually it is difficult to retain one’s positions because of risks, that can cause significant damage both to the economic indicators and the reputation of brand. These and many other issues can be resolved, and the hidden violations can be identified long before the negative consequences occur. With this intent companies can be assisted by compliance – a regulation system in accordance with the requirements of legislative, ethical and social standards.
EBA Odesa Legal Committee and Transport Working Group joint meeting was focused on the topics of compliance and cyber safety. Aliona Ptasenchuk, Compliance Officer of the Container Terminal Odesa, has highlighted important information on risk identification. Victor Boroviy, owner and CEO of Profinsure, provided advice on cyber risk reinsurance. And Vitaliy Tolstik, attorney-at-law, a leading lawyer of Interlegal, made a meaningful report how to check a potential counterparty. In their speeches, the experts also outlined the problems faced by logistics and agribusiness and provided practical recommendations for their elimination. Usually, it is expensive and painful to react urgently when something has already happened.
Thus, the application of the compliance system allows to anticipate and prevent a lot of troubles and give the following obvious results:
- Legal problems decrease;
- External communications enrich;
- Reputation of the organization enhance;
- Security improves;
- Level of the corporate culture increases;
- Opportunities for engaging trusted partners advance;
- Opportunities for activities in other countries occur, etc.