Compliance refers to the process of ensuring that an organisation adheres to legal, regulatory, and internal standards. In the financial crime compliance space, compliance specifically involves implementing measures to prevent, detect, and report activities such as money laundering, fraud, terrorist financing, and other illicit financial behaviours. 

Financial institutions and other regulated entities must follow strict guidelines, including Anti-Money Laundering (AML) regulations, Know Your Customer (KYC) requirements, and sanctions screening. Compliance teams are responsible for establishing frameworks, policies, and procedures that ensure the organisation is acting within the law. This includes conducting due diligence on clients, monitoring transactions for suspicious activity, and reporting any identified risks to relevant authorities. Effective compliance not only protects the organisation from legal penalties but also plays a critical role in safeguarding the financial system from abuse by criminal actors.