NatWest has taken a decisive step in its communication policy by blocking popular messaging platforms such as WhatsApp, Facebook Messenger, and Skype on company devices across the UK. This move is aimed at ensuring that employees utilize only ‘approved channels’ for internal and external communications.
The decision stems from concerns regarding the retrievability of messages exchanged on these platforms. With WhatsApp’s encryption and disappearing message features, there is a risk that important communications could be lost or inaccessible. In contrast, messages sent through sanctioned business channels are designed to be more transparent and easily retrievable.
In an official statement, NatWest clarified its stance: “Like many organisations, we only permit the use of approved channels for communicating about business matters, whether internally or externally.” This policy has been in effect for several weeks, reflecting a growing trend among financial institutions to tighten their communication protocols.
In August, reports surfaced indicating that the Financial Conduct Authority (FCA) is contemplating an investigation into the use of messaging services by employees within the banking sector. The FCA has circulated a survey to banks, inquiring about the use of encrypted messaging services and their potential impact on risk management.
The scrutiny of messaging practices is not without precedent. In the United States, several banks have faced penalties for failing to adhere to record-keeping regulations, particularly when employees were unable to retrieve older messages. Notably, HSBC Holdings was investigated in 2022 to assess the appropriateness of its employees’ use of such platforms. Similarly, JPMorgan Chase incurred a hefty 0 million fine in 2021 for neglecting to monitor the use of private applications and personal email accounts by its staff.
In the UK, regulatory actions have also been taken. Ofgem imposed a £5.4 million fine on Morgan Stanley last year for its failure to record and retain electronic trading communications, which included the use of WhatsApp for discussions related to wholesale energy trading.
While NatWest has long advised its employees against using certain messaging channels for business discussions, this recent prohibition marks a significant shift in its communication policy, reinforcing the importance of compliance and accountability in the financial sector.
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