Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control
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Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control
#2encrypted apps dont break SEC laws, people break SEC laws
Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control
#3"Wall Street's Restaurant Secret: Illegal Talking over Lunch is Out of Control"
> Dirty jokes and NSFW GIFs. Snaps of unsuspecting colleagues on the trading floor. Screenshots of confidential client positions.
> All that -- and, on occasion, even legally dubious information -- is increasingly being trafficked over the new private lines of Wall Street: street-level restaurants like McDonalds and Taco Bell.
> “They’re always behind,” said Jack Rader, a managing director at ACA Compliance Group, which sets up monitoring systems for financial services companies to flag potential regulatory problems. “It’s almost impossible for a compliance department within buyside or sellside firms to stay ahead of communications technology that is available for employees like the basic human activity of talking in private at a restaurant.”
Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control
#4encrypted apps dont break SEC laws, people break SEC laws
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Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control
#5So people have private ways to communicate, and sometimes they break the law by communicating forbidden stuff, hasn't that been a thing for ages? Why the sudden hate on Whatsapp, if there's a rise of law breaking messages, the root cause is elsewhere.
Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control
#6encrypted apps dont break SEC laws, people break SEC laws
Can a corollary to the NRA riff be poor software design and bugs don't create vulnerable systems, hackers create vulnerable systems?
It's like saying, coal in and of itself does not create global warming, it's people wanting jobs and cheap energy who contribute to global warming.
Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control
#7> They’ve learned even the slightest misinterpretation can land them in hot water -- not only with compliance, but with prosecutors on the lookout for financial crimes.
This is exactly the issue with police body cams.
Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control
#8So people have private ways to communicate, and sometimes they break the law by communicating forbidden stuff, hasn't that been a thing for ages? Why the sudden hate on Whatsapp, if there's a rise of law breaking messages, the root cause is elsewhere.
Probably due to fewer evidentiary "crumbs" left behind. No witnesses to meetings, conversation eavesdroppers or recorded calls --now everything is more or less deniable and irrefutable, unless one of the parties decides to double cross the other.
Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control
#9I don't want the government I pay to spend ANY time on this. I like to think of budget accountability as scrutinizing your partner over their spending decisions in a joint bank account. Just stop wasting time and money on that!
Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control
#10So the media starts to scare us about illegal texting. Oh no! Lets make all chat apps non-secure so the bankers can no longer chat illegally anymore