Compliance officers share lack of faith in off-channel comms monitoring policies
Addressing employee use of off-channel communications for conducting business was clearly on the minds of compliance officers who responded to Compliance Week’s “Inside the Mind of the CCO” survey, but their confidence in their related policies and procedures was surprisingly weak.
Of the 244 practitioners who responded when asked whether their firm has policies and procedures in place governing employee use of off-channel communications channels like WhatsApp, Slack, Signal, and WeChat, as well as texts and personal emails, for business purposes, 64 percent said yes. The survey received a total of 322 responses.
Twenty percent responded they do not have such policies in place, while 16 percent said they were currently drafting new policies amid increased regulatory scrutiny.