Cyber hacks and WhatsApp chats heighten risks for remote traders

While there are plenty of benefits to remote work, including staff retention and cost savings, the report highlights 43 conduct-related risks including reduced engagement with training, slower resolution of operating incidents, loss of connectivity and controlling the flow of confidential information. — AFP Relaxnews

Banks that allow traders to work remotely will need to continually rethink their approach to surveillance, cybersecurity and training to ensure employees are adequately supervised, according to an industry body.

Risks include an increased use of unmonitored communications via services such as WhatsApp, while workers outside the office represent another avenue for cyber threats, a report Thursday by the London-based FICC Markets Standards Board said.