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This headline is clickbait. The issue is banks not preserving records, something that the rules are ABUNDANTLY clear on.
by enterthematrix 3y ago
This headline is clickbait. The issue is banks not preserving records, something that the rules are ABUNDANTLY clear on.
- richbell 3y agoThe full headline is "...to evade regulators’ reach", which is much clearer.
- ikue 3y agoI had a problem with including the full headline because only so many characters could be used in the title of the post.
- yorwba 3y agoBanks fined millions for using chat apps to evade regulators
- richbell 3y agoThat makes sense. The title character limit seems to be a cause of frequent confusion.
- ikue 3y agoIt does and the limit makes it come off as clickbait-y which I don't like.
- WarOnPrivacy 3y agoPersonally, I sympathize. Rewriting headlines here (when necessary) can be tough; it isn't a given that the optimal one will reveal itself.
- psychphysic 3y agoYou could have used "Banks fined millions evading regulation with Signal & WhatsApp" News headlines have rules they use to make for shorter sentences. They'd probably write "Banks fined millions, delete records, use E2E apps"
- kolbe 3y agoHere's a link to the actual press release: https://www.sec.gov/news/press-release/2023-149 https://www.sec.gov/news/press-release/2023-149 It makes no mention of evading regulation. This fine is for a failure to retain written communications. Which is impossible to do for some of these communications channels.
- HPsquared 3y agoIntent is harder to prove.
- kolbe 3y agoWhat do you think we should assume about your communications on encrypted channels? This entire thing is yet another federal effort to criminalize encrypted communications, and it even works on the HN crowd. All they have to say is "big banks bad" and people here go from freedom fighters to government pawns.
- nradov 3y agoThis has nothing to do with encryption. Banks are free to encrypt their communications. But they need to keep communication logs and make the plain text available to regulators in certain circumstances.
- tqi 3y agoThat's not what is happening here.
- doesnt_know 3y agoIt's end to end encryption, as in, there are ends on each side where it is decrypted, usually for the humans to read. At the ends the records should have been maintained, the regulations aren't incompatible with E2E.
- bonestamp2 3y ago... and the records couldn't be preserved if the employees are using Signal and WhatsApp?
- macspoofing 3y agoCorrect. Neither Signal nor WhatsApp is integrated into any corporate messaging system, so the communication flowing through those apps, is neither archived nor discoverable.
- dp-hackernews 3y agoHow does that differ from a simple SMS message - afaik SMS isn't integrated in any corporate messaging system either...
- DANmode 3y agoFour levels of government and an ISP having an easily searched and/or subpoenae'd copy of the message...? What forum is this?
- pessimizer 3y agoThe headline isn't clickbait enough. Banks are using encrypted messaging to avoid leaving evidence.
- balderdash 3y agoFor many institutions SMS and iMessage are not approved platforms for records retention, it doesn't really have anything to do with being E2E
- halJordan 3y agoIt's still not clickbait. It's an honest headline, and a good one because it draws in the reader as is the point of a headline. Headlines are not supposed to replace the article which seems to be the real problem this thread has. The headline would still not be clickbait if they were fined for using sms and the article said "fined for using sms."
- alexfromapex 3y agoThe real issue is that there are just fines, which sound like a lot of money but it’s a small cost of doing illegal or shady business for banks.
- red-iron-pine 3y agoone that can be pushed on to customers, too. can't push jail on customers...
- cebsoto 3y agoThe title is not clickbait. WhatApp is known for being encrypted. Context provides the reasons why....this issue is not new.