The Bank job always seems to be fascinating and decent, but in-case to addressing the possible miss-conduct bank has to trace the staff relations when turning to the massive amount of data. However, the reason behind the monitoring the behavior of the bank employees when they turned towards big data, on the other hand, monitoring is also performed to check the relation between the employees. According to the reports of Financial Times, most of the banks have started to spy the performance of their traders, plenty of times they get used to an internal communication system.
The bank’s employees perform monitoring just because to make a check in case a trader is dealing bank clients personally to make illegal profits for their personal sake. Banks are very insecure sometimes, that’s why perform monitoring mobile devices and also spy on data to log to know how many times their trader get a break to smoke outside the premises of the bank, which could be a suspicious activity in the eyes of banking authorities.
According to the expertise of Michel Ruck who is an actually financial litigation and compliance expert,” it is easy to understand the reason behind to spy their staff members when they turned towards big data, they can get personal benefits from it. Therefore, banks should keep into consideration employee’s relations and illegal issues”. The Michel Ruck further added that the banking organizations and other company’s need to know the proper steps they are going to take for spying on their employees, and they should announce the heavy penalties and along with the monitoring within an organization. The banking and other organization should well aware their employees for facing the serious consequences in the shape of the investigation process.
The one particular issue which every second bank is facing that the employee monitoring applications can be less effective in order to prevent data and privacy. Banking employers should be open with their employees that they are being monitored through Cell phone spy applications, the data protection specialist Kathryn Wynn a data protection specialist.
“She also stated that the monitoring should be performed with the consent of employees unless found any suspicious behavior activity from any particular employee.” The monitoring should be done in an appropriate way without involving any sort of risk and also performed in a less impertinent way.
When spying is not applied to the content of communication, it is very easy to conduct from the perspective of the data protection and law compliance. The monitoring is very handy in terms of any interference within the data.
The Annabelle and Richard Bellmont the technology and privacy law experts in Paris stated that, any sort of business which does monitoring of employees necessarily inform the authorities what sort of spy tools they are using. In French Cassation Court, it’s been stated that the charges will be dismissed on a convicted employee incase if he/she is not of aware of monitoring was performed by their employees. Furthermore, a law consultant Selwyn Blyth stated that, blanks need to have open policy that for what purpose and under which circumstances the monitoring process is being performed. So, the policy should be clearly announced to the employees along with the singed consent.