What We Learned from an E-Comms Surveillance Deep Dive
It was apparent, communications surveillance was becoming increasingly challenging, and the attendees wanted ideas on how to optimize their ongoing efforts.
In May 2021, compliance officers, RegTech vendors, and financial folks across Europe, Asia, and the USA gathered to debate the future of communications surveillance. For each group, a lot was at stake. Policies, processes, and tech all need to meet existing requirements as well as consider future needs.
The Big Challenges Let’s start here with the Big 3. One – personal devices and exploding eComms channels are today’s greatest challenge for surveillance. Two – everyone is in hot pursuit of efficiency and optimization. Three – as it turns out, surveillance integration of disparate thirdparty and in-house legacy solutions is not a one-anddone.
Multi-channel Mess WhatsApp users send 100 billion texts per day! WeChat is also on heavy rotation with 40 billion daily messages. Not to mention zoom and Team … that’s a lot of potential for nefarious activity where bad actors are now readily enabled to engage in fraudulent activity and transact illegal deals.
Efficiency & Optimization COVID essentially had everyone’s attention for the past year or so. There was no mental or employee bandwidth available to consider optimization efforts. Business continuity – at any cost – trumped any efforts to streamline operations and enhance performance. With the pandemic more-or-less approaching a manageable state (maybe?) given the tremendous efforts around vaccine development and deployment, compliance officers .
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