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"Wall Street's Restaurant Secret: Illegal Talking over Lunch is Out of Control" > Dirty jokes and NSFW GIFs. Snaps of unsuspecting colleagues on the trading fl
by humbledrone 10y ago
"Wall Street's Restaurant Secret: Illegal Talking over Lunch is Out of Control"
> Dirty jokes and NSFW GIFs. Snaps of unsuspecting colleagues on the trading floor. Screenshots of confidential client positions.
> All that -- and, on occasion, even legally dubious information -- is increasingly being trafficked over the new private lines of Wall Street: street-level restaurants like McDonalds and Taco Bell.
> “They’re always behind,” said Jack Rader, a managing director at ACA Compliance Group, which sets up monitoring systems for financial services companies to flag potential regulatory problems. “It’s almost impossible for a compliance department within buyside or sellside firms to stay ahead of communications technology that is available for employees like the basic human activity of talking in private at a restaurant.”
- dwaltrip 10y agoOh c'mon. Encrypted messaging apps are orders of magnitude more efficient and discreet for communication in the context of the overall finance industry, compared to "talking over lunch" (or any other meatspace location). Not sure I have any well formulated thoughts about the significance of this trend among finance types... but I don't think your analogy is terribly illuminating.
- mirimir 10y agoRight. There's potential for anonymous rewards. For example: "Do ... now. If you want more updates, donate 1 BTC per ... to 1FBgaKqRZ1dFhjgAZuEqWNkoYdcFeJGPaG."
- humanrebar 10y ago> Encrypted messaging apps are orders of magnitude more efficient and discreet What's more discreet than a quiet conversation that you can deny happened later? You can take screenshots of just about any digital communication. The rest you can take photos of with your smart phone. I'll grant you efficiency, though, especially if it's a group conversation and some amount of coordinated activity is involved.
- manigandham 10y agoIn-person meetings are far more conspicuous. Other people, security cameras, etc.
- J-dawg 10y agoPaul Graham's "Submarine" definitely comes to mind. The suit is back!
- eternalvision 10y agoIt is unclear how the comment to which you replied led to you being reminded of "Submarine".
- eternalvision 10y agogoing to leave soon
- bhouston 10y agoThe FBI can track who you talk to in-person, but they can not with WhatsApp at the moment. Thus WhatsApp is orders of magnitude more efficient.
- zer0tonin 10y agoI doubt that, WhatsApp was bought by facebook to datamine contact lists, I'm pretty sure the FBI can request this data.
- ZetaTwo 10y agoDo you have any grounds for this statement whatsoever? Sounds a lot like baseless speculation. How would you imagine that FBI bypasses the end-to-end encryption?
- narrowrail 10y agoThe meta data of who talks to who is not encrypted. Edit: This is the whole problem tin-foilers have with Signal being the sole operator of servers and not allowing for federation.
- sfifs 10y agoplain old fashioned MITM with a court order accompanied by a gag order should be sufficient. Remember WhatsApp is BOTH the PKI infrastructure and the and the message transmitter. It is trivial for them to MITM by sending you and the recipient a different public key that they control and intermediate. The encryption prevents OTHERS from snooping on you. It doesn't protect you from WhatsApp itself - or the government acting with a warrant.