Mobile call recording eBook
Regulated industries, such as banking, are being forced to abide strict regulations around communications. For example, in 2011, the Financial Conduct Authority (FCA) extended the need to record traders’ business conversations on company mobiles.
At the same time, a growing number of organisations find it convenient to voluntary record their communications, to safeguard corporate or public reputations. For example, take the UK banking sectors’ recent mis-selling problems. High street banks have been fined a total of £30 billion for the mis-selling of payment protection insurance and mortgage advice.
In both situations, the banks were unable to mount a robust defence of their case due to a lack of adequate phone records. Unsurprisingly, some banks are now considering recording all calls on fixed-lines and mobile phones as a precautionary measure.
It is not just about phone conversations either. Increasingly, important trading information is being transmitted as SMS messages, and these need to be recorded too.