- WhatsApp and Facebook Messenger to be banned for internal NatWest communications
- You can still reach customer service through WhatsApp
- The Financial Conduct Authority issued fines to Morgan Stanley for irretrievable conversations
One of the UK’s largest banks has banned employees from using instant messaging apps such as WhatsApp, Skype, and Facebook Messenger.
NatWest had previously asked workers to ensure they used ‘approved channels’, but has now gone one step further and made messaging platforms inaccessible from company-issued devices.
Whilst WhatsApp and Facebook Messenger are encrypted, they can also be set to disappear or can be difficult to retrieve, but financial institutions must be in line with record-keeping regulations, and have retrievable communications.
Robust regulations
“Like many organisations, we only permit the use of approved channels for communicating about business matters, whether internally or externally,” a statement from NatWest confirmed.
The Financial Conduct Authority is reportedly paying particular attention to the issue of unmonitored communications, which prompted NatWest to take actions to protect itself in regards to the regulations.
The rules are aimed at preventing market abuse and misconduct, but the use of third party messaging apps has made them harder to enforce, especially with an increased number of people working from home. The bank still offers WhatsApp as a means of contact for customers and for assistance with banking enquiries, but the platform is banned for internal communications.
This comes after a huge fine was handed to Morgan Stanley of almost £5.5 million when Ofgem determined the bank had breached rules on recorded communications after staff used WhatsApp for trading communications.
Many Brits will remember the recent COVID inquiry revealed a mass deletion of WhatsApp messages by Government ministers and officials, on an ‘industrial scale’.
Former Prime Minister Boris Johnson told the inquiry he lost around 5,000 messages, which were never recovered – illustrating the unreliable nature of third party messaging apps (and politicians).
Via BBC