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FinTech Global: Why a lack of communications compliance could be impacting the hybrid workplace

By October 26, 2022October 27th, 2022No Comments
Why a lack of communications compliance could be impacting the hybrid workplace 696x522 1

 

A recent study has found a majority of respondents believe employees in their companies are using unmonitored communications channels, creating heightened security and compliance risks.

According to Theta Lake, the 2022 Modern Communications Compliance and security Report found that 66% of respondents believe employees in their companies are using unmonitored communications channels, posing heightened security and compliance risks to firms.

Up to 67% of respondents said they expect the usage of popular collaboration platforms such as Zoom, Teams, Slack and RingCentral to increase. In addition, employees have shown a growing preference for the tools available through these platforms, with 81% using chat and 63% using video as much or more than email to communicate.

The transfer of files via chat (52%) and the ability to share links in chat or on screen (41%) are still considered the riskiest features for respondents.

Theta Lake also discovered that four out of five respondents from financial services businesses anticipate that there will be increased regulatory expectations to monitor video, while up to 36% from all industries believe video conferencing and webcams create the greatest risks in terms of data privacy and employee misconduct.

For compliance teams utilising legacy archiving solutions, modern communications platforms prove difficult to oversee. Around 85% of organisations experience challenges in retrieving records, while 33% were said to be using significant manual resources to search multiple systems and modes of communication.

Simultaneously, 52% find it difficult to search modern communication channels outside of traditional email methods – increasing exposure to potential fines and sanctions for not being able to provide timely, complete data for investigations, litigation data privacy or other compliance purposes.

Meanwhile, an additional 39% of respondents cited gaps in coverage as a top challenge with their current archiving tools, these findings highlight the growing divide between tools built for email and the need for enhanced archiving capabilities to keep pace in today’s increasingly complex communications environment.

Read the full article here!

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