Sanctions imposed for non-compliance can include fines, legal actions, and loss of business licenses. These pose a significant financial and reputational risk to organizations.

Disabling access is an automation use case that would best enhance the security posture of an organization by rapidly updating permissions when employees leave a company. Disabling access is the process of revoking or suspending the access rights of a user account, such as login credentials, email, VPN, cloud services, etc. Disabling access can prevent unauthorized or malicious use of the account by former employees or attackers who may have compromised the account. Disabling access can also reduce the attack surface and the risk of data breaches or leaks. Disabling access can be automated by using scripts, tools, or workflows that can trigger the action based on predefined events, such as employee termination, resignation, or transfer.
Automation can ensure that the access is disabled in a timely, consistent, and efficient manner, without relying on manual intervention or human error.

A regulatory requirement is a mandate imposed by a government or an authority that must be followed by an organization or an individual. In a banking environment, audits are often required by regulators to ensure compliance with laws, standards, and policies related to security, privacy, and financial reporting. Audits help to identify and correct any gaps or weaknesses in the security posture and the internal controls of the organization.

This is the risk that remains after controls and mitigation efforts have been applied.