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An authority is the source by which rules are drawn, they are the convincing force behind an argument to do something. Two common forms of authority are governmental agencies and institutional authorities. Within the world of compliance, local and national governments create laws and regulations that provide the authority necessary to enforce compliance. However, institutions such as VISA and MasterCard have banded together to form the Payment Card Industry standards act as institutional authorities behind their compliance standard, the PCI-DSS.

Domain: Law, Government, Compliance,

Similar words: Oath | Privacy by design | Beneficial owner | ACCESS POINT