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NatWest has recently restricted the use of unapproved messaging apps, including WhatsApp, on employee work devices. The move aligns with the bank’s policy of permitting only approved communication channels for business discussions.
“Like many organizations, we only allow the use of sanctioned channels for discussing business matters, whether these are internal or external communications,” NatWest stated.
This decision comes as regulators intensify scrutiny on communication tools that complicate message retrieval and record-keeping for regulatory compliance. Last year, UK energy regulator Ofgem fined Morgan Stanley £5.41 million due to traders’ use of WhatsApp on personal devices to discuss market transactions.
In the United States, regulatory authorities have imposed nearly $3 billion in fines on financial institutions for using unofficial communication tools like WhatsApp and iMessage, reinforcing the importance of secure and compliant communication channels across the financial sector.
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