Communication surveillance refersto the collection, monitoring, interception, retention, and preservation of communicated, generated, and relayed information. The communication might have taken place across networks between two parties. Surveillance does not require human eyes to read and intercept the communication since automated action with privacy rights is used to interfere. Surveillance can happen on a massive or intrusive scale-like malware to a PC.
Communication plays a crucial role in the world of business, as it helps pass information, share experiences, build relationships, and develop brand recognition. Surveillance interferes with communication to ensure data is not shared beyond control. Employees and clients behave responsibly when they know a system is watching them. As far as financial services are concerned, they involve human capital that can be put at risk if sensitive information gets leaked. This is where surveillance in communication comes of the essence.
Use of Technology in Communication Surveillance
The communication world has developed extensively, bringing together diverse networks to spread messages. From the world of fixed landline phones and telegraphs to the internet and mobile phones, technological advancements have given people more ways to communicate. However, with diversity in communication comes the risk of fraud and breach. This is where communication surveillance is required, especially for businesses operating in the financial sector.
Thanks to advancements in surveillance technologies, it is no longer limited to messenger interception and crocodile clips. These days, surveillance experts have advanced technologies to monitor communication through phone, the internet, social media, and other mediums.
What’s Involved in Surveillance to Bring Human Capital Concerns?
Companies hire surveillance specialists for assistance. When requested, these experts have lawful access to communication channels and can deliver information to intelligence and law enforcement agencies. Companies can also pull the required information themselves to monitor their employees’ communication mediums. Government agencies may also use surveillance technologies in communication to directly interfere with the communication channels. Financial institutions often use surveillance in their employees’ communication mediums to ensure compliance and mitigate risks. It helps identify signs of misconduct early on and stop back elements before abuse occurs.
Why is Surveillance So Critical in Communication?
Communication happens in financial institutions across a diverse range of systems, platforms, and geographies, covering varied financial instruments and asset classes. Communication regarding any transactions covers different channels, from voice calls and emails to platforms like WhatsApp, Zoom, and Bloomberg. Therefore, firms need to capture, gather, interpret, and normalize vast amounts of data. They must sift through the data to eliminate false positives and identify the real threats. For this, they need sophisticated technology that only a specialist communication surveillance team can access. These service providers have surveillance and compliance teams that use advanced algorithms to identify misconduct and warning signs. They also reduce false positives, thereby stopping any bad actors before a financial fraud or crime occurs.
Components of Efficient Surveillance in Communication
Surveillance brings human capital concerns by making use of the following components:
Seamless Ingestion of Data: Surveillance experts collect, validate, index, and normalize data available in structured or unstructured form. These may include everything from emails and voice calls to WhatsApp messages and Bloomberg chats.
Smart Alerts: With dynamic algorithms, smart alerts can be created based on logic and behavior. Real-time machine learning, granular parameter settings, and back testing fine-tune surveillance procedures and reduce false positives.
Real-Time Vision: With efficient communication surveillance, companies can instantly determine and retrieve data sets, automatically analyze and detect anomalies, and create cases for investigation and other purposes. Surveillance gives real-time vision into what people are doing, who, with whom, how, and where.
Who Can Perform Surveillance in Communications?
Surveillance specialists who have access to the latest technologies can perform surveillance in communications. Private companies, intelligence agencies, and law enforcement bodies often hire these to identify fraud and misconduct in communication channels. Unless misconduct is identified, they meet the standards to peep into someone’s communication mediums and maintain privacy. An efficient surveillance platform gathers, analyzes, and monitors all communication within an organization across multiple channels. It strengthens risk detection, demonstrates compliance, and improves oversight.
In the face of the financial crisis and market manipulations getting common these days, much emphasis has been placed on improving conduct within the financial market. The compliance teams now need digital surveillance to detect signals of conduct issues and monitor behaviors to mitigate risk. All in all, communication surveillance can bring human capital concerns to a great extent.
