- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-11-30T16:00:00
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.
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As if creating policies and procedures to handle employee use of off-channel communications is not difficult enough, ephemeral messaging platforms can make it even more difficult to recover messages in transit.
The new messaging on use off-channel communications for business should be clear: What was done before is no more. It cannot continue. The stakes are too high.
Establishing a set of policies and procedures to prevent employee use of nonauthorized electronic communications to conduct business is relatively straightforward. The hard part is monitoring compliance.
Compliance Week’s sixth annual “Inside the Mind” survey seeks to discover what makes CCOs and other risk and compliance practitioners tick. Take 10 minutes to share your experiences and be part of our special report.
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