Wall Street banks have been hit with more than $2bn of fines for using unauthorized communications channels—a number that is set to keep on rising as regulators clamp down on unmonitored communications. The risk of bank employees using channels such as WhatsApp and other social media platforms has proliferated given the shift to hybrid working that accelerated during the Covid-19 pandemic.

This Risk Intelligence report looks at:

  • History repeating itself
  • The increasing risk factors
  • Fixing the gaps
  • Mitigating the risks

The Acin platform enables you to benchmark your controls against what other market participants are doing to measure, manage and mitigate risks. The network data will help you to build a more accurate picture of the overall risk ecosystem, giving you deeper insights and risk intelligence to continuously develop and refine your controls.

This risk intelligence piece is available to download or on the Acin Platform. Also check out our blog on “$2Bn unauthorised messaging fines Acin could prevent“.

RI Report Unauthorized communications become a $2 billion problem for banks graphic
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