WhatsApp may be a convenient way for businesses to keep in touch with clients, but it has proven costly for some of the world’s biggest financial institutions. Around a dozen banking giants, including JPMorgan and Goldman Sachs, were hit with fines totalling more than $2bn (£1.6bn) last year for failing to monitor messages sent via unauthorised apps such as WhatsApp.
The episode underscored the risks businesses face from the explosion in new digital communication channels and the challenges of keeping tabs on what employees are sharing on them.