Banks hit with millions in fines for using Signal and WhatsApp
1–10 of 247 posts
Re: Banks hit with millions in fines for using Signal and WhatsApp
#2Are 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?
Re: Banks hit with millions in fines for using Signal and WhatsApp
#3Are 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).
Re: Banks hit with millions in fines for using Signal and WhatsApp
#4Are 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 ?
It is a record keeping issue from what they discussed and the same thing was said in an article at ComputerWorld. https://www.computerworld.com/article/3668574/banks-face-a-w...
Re: Banks hit with millions in fines for using Signal and WhatsApp
#5Ha, 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.
Re: Banks hit with millions in fines for using Signal and WhatsApp
#6Are 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).
Thanks! That makes a lot of sense.
Re: Banks hit with millions in fines for using Signal and WhatsApp
#7Are 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).
So ... you aren't obligated to preserve records of the conversation if the channel is "in person", then.
Re: Banks hit with millions in fines for using Signal and WhatsApp
#8Are 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).
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 blackberry (was not logged for boss to read at the time).
Re: Banks hit with millions in fines for using Signal and WhatsApp
#9Ha, 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?
Re: Banks hit with millions in fines for using Signal and WhatsApp
#10Ha, 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?
Can't speak for the entire Europe obviously, usage varies from country to country, but where I've been it's pretty well entrenched for bot social and business.