Regulatory scrutiny of WhatsApp use for business communications

  • Send periodic reminders and conduct training sessions for employees on the rules and guidelines around approved channels and devices for business communication
  • Use data loss prevention alerts and internal controls to avoid dissemination of internal, confidential and material non-public information to external parties
  • Employees working from home or office should only use devices provided by their firms and should not take pictures and screenshots of information on personal devices. Firms should implement systems to block screenshots and not allow printing of documents that contain MNPI
  • If firms are allowing employees to use text messaging applications such as WhatsApp for business purposes, they should adhere to all the record-keeping requirements listed by regulators
  • Firms should use a mix of lexicon and random searches as part of their ongoing surveillance of employees’ communications, and these should include targeted keywords and phrases
  • Firms should also conduct targeted searches for any high-risk individuals and scrutinise suspicious behaviour of employees
  • Any business communication conducted through a platform meant for personal use should be notified to the compliance officer at the earliest and should not be deleted

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We write about financial industry trends, the impact of regulatory changes and opinions on industry inflection points. https://www.acuitykp.com/

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Acuity Knowledge Partners

Acuity Knowledge Partners

We write about financial industry trends, the impact of regulatory changes and opinions on industry inflection points. https://www.acuitykp.com/

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