this post was submitted on 19 Oct 2023
112 points (95.2% liked)

Technology

59300 readers
4529 users here now

This is a most excellent place for technology news and articles.


Our Rules


  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots


founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 25 points 1 year ago* (last edited 1 year ago) (1 children)

The issue is the opposite, because people use non official communication channels it's hard for regulators to get the information they need, and it can be taken as the bank hiding things, which leads to fines. It's in the article:

This could result in the breach of regulatory rules on recording all business communications, leaving little room for oversight by authorities to take action in case of compliance concerns.

"Banks use a wide range of approved channels to communicate in compliance with regulatory obligations,” a spokesperson for the bank told Bloomberg. “HSBC, like many other banks, reviews and adjusts functionality on its corporate devices as needed.”