Boasting

Information shared on WhatsApp is regulated, and may be visible, too, if you’re in banking.

“U.K. Fines Ex-Banker For Boasting on App,” The Wall Street Journal, March 31, 2017 B10.  A managing director used WhatsApp to share confidential deal information with his buds.  The managing director resigned and was fined £37,198.  The company had discovered the messages when searching the former employee’s phone on another matter. [Messages on WhatsApp normally can’t be seen by government investigators because of end-to-end encryption; you need access to the device and the password – see the recent terrorist attack in London.]

Learnings:

  • Managing Directors don’t follow policies
  • Companies do well when they report transgressions to the authorities.
  • People get fired for this stuff
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Filed under Access, Compliance, Controls, Corporation, Directors, Duty, Employees, Governance, Internal controls, IT, Oversight, Security

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