Implementing WhatsApp recordkeeping can have a lot of valuable benefits for your business. Without effective recording and monitoring controls in place, your employees can potentially
use the app as a tool for avoiding audits by your compliance department or
relevant authorities. This can leave your company vulnerable to compliance
breaches and incidents of market abuse and present a real risk of loss of
monitoring and surveillance capability.
More over,there may be an absence of protection through loss of evidence to resolve
disputes between your company and your clients over transaction terms.
Subsequently, failure to have a dependable WeChat recordkeeping solution may increase the risk of fines, penalties, as wellas reputational damage.
There are so many challenges and requirements you need to consider when implementing
a compliant and reliable recording and recordkeeping solution for WhatsApp and
other digital channels. To start with, you need to be aware of your compliance
department’s top business needs.
One of the important department’s top business needs is automatic, policy-based
recording. You need to make sure that your recording solution is automatic and
policy-based, and it should meet the requirements of global directives and
regulations, like MiFID II and Dodd-Frank. Your recording and recordkeeping
system needs to provide configurable retention policies (typically 5, 7, and/or
10 years), legal hold, Whatsapp recording in both iOS and Android devices as
well as compatibility with Mobile App, WhatsApp Web, WhatsApp Desktop.
It would also be good if the WhatsApp recordkeeping solution you will choose
provides a complete separation between private and business texts on BYOD devices.
It should also provide automatic archiving operating in the background without
any user intervention.
For more information on the benefits and challenges of implementing WhatsApp recordkeeping in your business, visit our website at https://www.telemessage.com/
