Electronic communication: With great advantages come great risk
Across today’s enterprises, electronic communication channels like Slack, Zoom and WhatsApp have revolutionized business communication and become vital to business continuity, collaboration and remote work. While convenient and necessary for many organizations, this massive shift in the way we communicate also brings significant risk, including compliance and security concerns that could result in disastrous data leaks and debilitating fines. This is a problem on a global scale. Wall Street’s biggest banks have already faced a combined $1 billion in fines because of employees using encrypted messaging apps to communicate and conduct business, and the UK’s Financial Conduct Authority (FCA) is warning firms to find alternatives to WhatsApp.