Many companies have begun using secure messaging solutions to ensure the security of their business communications, while others have already resorted to such platforms to communicate with their clients in a faster and more accessible way.
The popularity of secure messaging solutions such as WhatsApp inside the workplace warrants the use of a reliable WhatsApp archiving solution that can efficiently capture mobile calls, chats, and other content sent through the platform to ensure that a company will have a copy of their conversations. Having a copy of communications data will come in handy in case there are disputes and lawsuits as they can be used as evidence in the court.
Another popular messaging app that many people use today is Telegram, whose popularity is boosted by a secure “secret chat” function that does not back up the messages to the cloud. Many South Korean bond contractors that have been using secure messaging apps like Telegram to chat have learned that such solutions are not enough to seal a business deal. Yuanta Securities Korea Co. filed a lawsuit in 2019 against Hyundai Motor Securities Co. after the latter allegedly did not honor a debt deal made in a conversation on Telegram. Yuanta lost the lawsuit after the Seoul Central District Court ruled that discussions held in Telegram messenger didn’t count as a definitive contract.
Hyundai Motor Securities stated that no deal was made despite communicating with one another through Telegram because there was no definitive agreement regarding the transaction. HMS was supposed to purchase won-denominated commercial paper repackaging dollar bonds from China Energy Reserve & Chemicals Group Co. for 14.8 billion won.
The Seoul Court stated that deals made through Telegram conversations are not binding contracts since the secret chats can be removed without leaving any traces on its servers.
Risks of Using Telegram and Other Secure Instant Messaging Solutions
Telegram is a secure instant messaging solution that’s currently popular among government officials and employees of financial firms, but its popularity comes with various risks in data security. An anonymous San Francisco Board Supervisor revealed in 2016 that they were encouraged to use Telegram to evade public record laws. Organizations can use self-deleting messaging apps to share sensitive and incriminating information that they do not want to disclose in court.
More and more government employees are using covert mobile messaging applications to communicate with different people as well as undermining government transparency and accountability. Recovering deleted messages through a detailed forensic analysis is also a costly endeavor.
Besides Telegram, other self-deleting messaging apps are available, including Confide, that can attract the scrutiny of both the FOIA and open government advocates. Banning the use of such messaging apps will keep government and financial organizations safe from violating compliance regulations.
Why WhatsApp Archiving is Crucial in the Modern Regulatory Landscape?
Regulators are now clamping down on the financial industry’s continuous use of private messaging apps and self-deleting messaging apps since such applications can cause organizations to violate the Freedom of Information Act. Running afoul from regulatory requirements can cause problems for a firm. Cases on work disputes and breach of contract allegations can be settled quickly if the detailed communications of both parties are available.
It is vital capture mobile calls, chats, and other WhatsApp content to comply with any WhatsApp call recording laws present and to retrieve work-related conversations. Organizations that can record voice calls will be able to improve their employee engagement by allowing for self-audits, understanding the patterns of the interactions between the staff and the client, gain insight on the employees, and improve training and coaching.
Case on point, WhatsApp archiving also ensures that the organization will have a copy of its business communications, allowing them to comply with WhatsApp eDiscovery request as soon as possible in case they get involved in a litigation.
If Yuanta Securities Korea Co. had managed to retain its Telegram communications with Hyundai Motor Securities, then it would likely have had a chance in its case against HMS.
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TeleMessage offers cross-carrier and international mobile text & calls archiving for corporate and BYOD phones. Contact us to learn more about our mobile archiving products.
