Banking
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Government regulators are taking the issue of compliance more seriously then ever before, imposing harsh penalties on those that don't comply -- from litigation and massive fines, to in some cases, imprisonment. |
Commercial Banks
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Regulator/Regulation such as Sarbanes Oxley (SOX), NASD 2210, 3010/3110, SB1386 in CA, Gramm Leach Bliley Act (GLB), USA Patriot Act (USPA), FDIC, require that IM defined as electronic communication "book and record". GLB requires security of customer information. USPA requires record retention of suspicious communications associated with money transfer and laundering. FDIC provides guidance on security and management of IM. FDIC provides guidance on security and management of IM. |
L7 Solutions and FDIC Regulations
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Below you will find the Federal Deposit Insurance Corporation’s (FDIC) recent guidance to assist financial institutions in protecting themselves against the vulnerabilities of instant messaging (IM) usage. The guidance is represented in a letter targeted to CEO’s and CIO’s of its member companies. This is a very big piece of news for the industry and is a positive step in providing awareness for IM in the workplace. |
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The FDIC provides regular guidance to its member firms on a broad set of issues. Information regarding the FDIC guidance on IM can be found at the following links: |
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FDIC Guidance on Instant Messaging |
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FDIC Guidance on Instant Messaging Technology |
Regulations vs. Penalties vs. Challenges
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