Eddie Green, CEO of SnippetSentry, on Communications Preservation Risks

Corruption Crime & Compliance

Companies have a vested interest in preserving internal communications for a variety of reasons -- to hold actors accountable and to protect the organization from potential private and government claims or investigations that may have serious direct or collateral consequences. Companies that want to use ephemeral messaging systems can do so, but they have to understand the risks involved and tailor appropriate controls and procedures to avoid potential damage.

DOJ's Evaluation of Corporate Compliance Programs ("ECCP") released in March 2023 authorized companies to use ephemeral messaging but emphasized several important risk considerations and controls needed to preserve robust record-keeping requirements. DOJ's ECCP identifies three significant areas for consideration: employee use of personal devices, availability of communications platforms (e.g., Jabber, Slack, Teams, Google, Zoom), and messaging applications, including ephemeral messaging. DOJ's ECCP noted that a company's policies governing messaging applications "should be tailored to the corporation's risk profile and specific business needs and ensure that, as appropriate and to the greatest extent possible, business-related electronic data and communications are accessible and amenable to preservation by the company.")

In this podcast, Michael Volkov and Eddie Green, CEO of SnippetSentry, discuss current communications preservation requirements and technical solutions to meet them.

You’ll hear them discuss:

• Companies are rapidly embracing and elevating the importance of robust ethics and compliance programs to promote positive corporate citizenship. This shift reflects a growing awareness of the significance of ethical practices in today's business landscape.
• Eddie discusses the significance of preserving communications data in today's business landscape, given the evolving nature of communication technologies and the need for proactive data preservation strategies.
• SnippetSentry's service allows users to seamlessly connect their phones to ensure all texts are archived without altering their day-to-day operations, allowing integration of compliance measures seamlessly into existing workflows.
• The evolution of email preservation serves as a blueprint for understanding the importance of preserving text messages in modern business communication. Reflecting on past practices can provide valuable lessons for adapting to the changing landscape of communication data preservation.
• Compliance mandates, such as those set by the SEC, emphasize the necessity of preserving text records to ensure regulatory adherence and mitigate risks, underscoring the critical role of data preservation in maintaining transparency and accountability in business operations.
• The collaboration between compliance, IT, and information security professionals is crucial in developing policies and procedures to safeguard data and mitigate communication risks.
• Financial institutions and other industries are increasingly adopting sophisticated data preservation strategies to protect intellectual property and ensure regulatory compliance. This proactive stance reflects a growing recognition of the importance of data security and compliance in safeguarding business interests.

Resources

Michael Volkov on LinkedIn | Twitter

The Volkov Law Group

Eddie Green on LinkedIn | SnippetSentry