Banks hit with millions in fines for using Signal and WhatsApp

Post by mihaic » Tue, Aug 08, 2023, 2:48 PM UTC

bombolo wrote: post #13

WinstonSmith84 wrote: post #11

Earlier quoted context omitted.

Also security. WhatsApp end-to-end encryption or even better, Signal where messages can't be replicated to any other device is more reassuring than a custom implementation ... But it looks like this lawsuit is exactly about the opposite, that messages cannot be accessed and reviewed easily. It's also easy to understand why banks prefer using secured applications like Signal when discussing secret deals rather than ta…

> WhatsApp end-to-end encryption or even better so they claim… not that fb has ever given us a reason to trust them.

Post by qwerty456127 » Tue, Aug 08, 2023, 2:49 PM UTC

richbell wrote: post #20

qwerty456127 wrote: post #15

No person on Earth (except a very reasonably suspected terrorist perhaps, because he could use that for an attack trigger) should be ever denied privacy. What if I worked at a bank and had to text something urgent to my dear? I would find it asolutely unacceptable for anybody to ever read that, no matter how innocent and banal our conversatioun would be. To me that would be equivalent to tapping into my brain and eav…

As per the article, the issue is that employees were using encrypted messaging apps for work purposes. This is strictly forbidden by regulations, or at least failing to preserve your communications is.

Post by veave » Tue, Aug 08, 2023, 2:51 PM UTC

polygamous_bat wrote: post #3

pipo234 wrote: post #2

Are US bank employees prohibited from discussing financial matters using anything but official channels (email, paper?) per se OR is this about using other channels and failing to preserve records of the conversations ?

AFAIK you are allowed to use any channel as long as you preserve records of the conversation. However, meeting the standards for preservation is quite difficult, which is why employees of financial institutions are generally told not to communicate outside person-to-person, or channels vetted by their company (and lawyers thereof).

Post by stefncb » Tue, Aug 08, 2023, 2:55 PM UTC

bombolo wrote: post #9

FirmwareBurner wrote: post #5

Ha, in Europe WhatsApp is even used by doctors and teachers to discuss patient/student matters, and even some government offices use it. It's wild how entrenched it is in every aspects of society, from social to business. Goes to show you how far good UX, simplicity and ease of use can take you.

Never heard of it. Perhaps not in the entire europe?

Post by edmundsauto » Tue, Aug 08, 2023, 2:55 PM UTC

Sunspark wrote: post #8

polygamous_bat wrote: post #3

Earlier quoted context omitted.

AFAIK you are allowed to use any channel as long as you preserve records of the conversation. However, meeting the standards for preservation is quite difficult, which is why employees of financial institutions are generally told not to communicate outside person-to-person, or channels vetted by their company (and lawyers thereof).

Such a waste of time trying intently to regulate and control communication. People will just get a second private device that is not managed by the organization, and if there is a mutually beneficial advantage to doing so, the other party will do the same as well. This has been going on forever, I remember when they kicked up a huge fuss when they found out that people were doing direct pin-to-pin messages on the bla…