How firms are managing the compliance risks of WhatsApp and modern communications’
Mobile voice, messaging and WhatsApp have proven to be a very effective way of engaging and communicating with customers, clients, and partners. However, gaps in compliance record keeping and supervision for these integrated voice and text communications have led to fines of more than $2bn imposed on a swathe of U.S. financial institutions.
While the pandemic was a seismic change for how organizations communicate it was not an excuse for record-keeping failings. Despite numerous regulatory warnings about the importance of maintaining communications records, banks failed to capture, store, monitor and retrieve millions of messages. Unsurprisingly regulators have not only lost patience but have also expanded their review of communications compliance to other financial services sectors with other, non-U.S., regulators reported to be following suit.
This timely webinar will explore how firms can manage the risks of using modern communications, including insights from Theta Lake’s annual survey of 500+ senior compliance and security practitioners in highly regulated industries.
Key takeaways include:
- Industry trends to benchmark against – from the adoption and usage of modern communications to current compliance practices, including disabling channels
- Key risks to consider including the regulatory focus on unmonitored communications, and lessons to be learnt from recent U.S. enforcement actions
- How to enable employees to use preferred communications in a compliant manner
- How to quickly and efficiently scale the end to end capture, archive and supervision of communications to meet compliance obligations, while not disrupting mobile /IT infrastructure
Join Theta Lake’s experts, Stacey English, Susannah Hammond, and Garth Landers together with Amit Modi, CTO of Movius for an unparalleled insight into addressing the practical challenges of modern communications compliance.