The pandemic has had a significant effect on how business are being run, due to the challenges of homeworking and changes to technology. According to Julia Hoggett, the FCA’s Director of Market Oversight, banks must still deliver the same standard of surveillance with home workers as they would in an office environment. Hoggart warned that any challenges faced at the beginning of the pandemic where the usual levels of recording and surveillance were not possible, should now be fixed.
It now seems there is no room for error. It also seems that misconduct may especially be increased by use of encrypted and unmonitored communication apps such as WhatsApp, which can be responsible for sharing potentially sensitive information connected with work. If this is the case, organisations must ensure that these apps are being recorded and auditable.
The pandemic can no longer be used as an excuse for non-compliance. The FCA expect both office and remote working arrangements to be equivalent and to play their part in ensuring our markets are clean whatever the times and whatever the challenges.
