FStech - Social & Mobile Apps: The Escalating Cost of Non-Compliance

Social & Mobile Apps: The Escalating Cost of Non-Compliance

In today's digital age, financial services firms are increasingly using social and mobile apps for their day-to-day operations. However, the rise of such apps has led to a growing concern about non-compliance with regulatory requirements, resulting in costly penalties for firms. Recent headlines have highlighted the issue, with several big banks being fined for their use of WhatsApp or malicious text messages.

In this industry brief, we'll explore how firms are re-evaluating their strategies to stay compliant in this changing environment. We'll provide examples of recent enforcement actions and offer five important questions that firms can ask themselves today to take action and avoid non-compliance with social and mobile apps.

Stay ahead of the curve and ensure compliance with the latest regulatory requirements. Read our industry brief today.

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