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Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control

bloomberg.com

11–20 of 86 posts

Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control

#11

> 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.

The issue with every way of gathering info.

The question is "are data from body cams more armful that they help preventing bad behavior".

Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control

#12

"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…

Paul Graham's "Submarine" definitely comes to mind.

The suit is back!

Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control

#13
post #5

So 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.

Because the previous ways of communicating while working for a company with a compliance department that are hard to subpoena weren't on hundreds of millions of people's cell phones? Not saying that means the law should go after WhatsApp or it's WhatsApp's fault (I would strongly argue against both), but that doesn't mean it being made easier and deniability becoming more plausible isn't the cause.

Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control

#14
post #2

encrypted apps dont break SEC laws, people break SEC laws

My first thought when reading the headline. It's not "illegal texting". It's the crimes they do via texting (or via any other communication medium) that are illegal.

Also, I thought the government already didn't care about any of the bankers' crimes, because it never seems to prosecute them. If there are banking crimes committed out there, I'm sure the NSA (and now 16 other agencies [1]) are aware of them, even going back several years. They just choose not to prosecute them.

[1] https://www.nytimes.com/2017/01/12/us/politics/nsa-gets-more...

Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control

#15

So 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

That was my first thought as well. Look out for more "[unpopular group] uses [encrypted service] to break the rules" articles coming soon.

Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control

#16

So 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

Hey, this is a big deal. Bankers used to be above-board, even role models for ethics and legality. SnapChat has allowed them to be come corrupt. /s

Re: Wall Street's WhatsApp Secret: Illegal Texting Is Out of Control

#20
post #5

So 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.

The UK's Home Secretary Amber Rudd, fives days ago said "WhatsApp must be accessible to authorities", following the Westminster attack.

She summoned some big tech firms yesterday to tell them how unacceptable it is that the police can't read encrypted messages.

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